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...Thames Water supplies a quarter of the population in England and Wales — or 16mn people....
...Ofwat is to provide a draft ruling on bill rises on June 12....
...Ofwat is due to make a draft decision in June and a final ruling early next year....
...“To achieve this water companies have proposed a record £96bn of investment — a near-doubling of current levels.”...
...A government spokesman said: “We prepare for a range of scenarios across our regulated industries, including water, as any responsible government would.”...
...serves about a quarter of the UK’s population....
...they have a neutral impact....
...Meanwhile, a political and public outcry has erupted over service quality and pollution. “Thames Water is a canary in a coal mine,” said one water company investor....
...South East Water Ltd, the only part of the group regulated by Ofwat, posted a £74mn pre-tax loss compared with a loss of £37.2mn the previous year....
...Last week the government passed updated water insolvency legislation, a move seen by industry experts as an indication that a collapse could be imminent....
...A failure at Thames Water could spread to other water companies and other essential infrastructure, according to investors surveyed by Barclays Research....
...Regulator Ofwat is still considering that plan, and is set to publish a draft ruling on June 12 and a final assessment by the end of the year....
...The FT’s Gill Plimmer joins me now to talk about it. Hey, Gill. Gill PlimmerHi. Sonja HutsonSo what’s the latest when it comes to Thames Water?...
...And for that, we’re joined by the FT’s infrastructure correspondent, Gill Plimmer. Hi, Gill. Gill Plimmer Hello....
...“That’s what happens with a nationalisation,” said one government official....
...On February 29, a Saudi developer closed the financing of Dubai’s Hassyan desalination plant at a record low tariff of $0.36 per cubic metre — a feat made possible by the availability of solar power in the...
...It faces a public outcry over sewage....
...A draft ruling is expected by Ofwat in June....
...Shareholders have asked the regulator Ofwat for a 56 per cent increase in bills and leniency on fines....
...“It’s a big ask for a shareholder to write a £500mn cheque with no chance of getting it back,” said an investor in another UK water company. “They have Ofwat over a barrel....
...It is expected to produce a new business plan in coming days which could include a change in bill proposals....
...commitment to invest a further £500mn....
...Thames Water, the government and Ofwat are now rushing to find a solution....
...They could learn a lot from cities such as Phnom Penh.”...
...It said about a third of the squeeze stemmed from delays in completing the Aventra programme, a project to build 443 electric trains in the UK....
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