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...The prospect that Thames Water may face temporary renationalisation has put the utilities in the public and political spotlight....
...A period of temporary public stewardship is generally framed as a worst-case scenario in discussions about the future of Britain’s biggest privatised water utility....
...Wolfgang Danspeckgruber Founding Director, Liechtenstein Institute on Self-Determination, Princeton University, Princeton, NJ, US...
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...Benjamin H Bradlow Assistant Professor of Sociology and International Affairs, Princeton UniversityPrinceton, NJ, US...
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...Thames Water had £2.4bn of liquidity at the end of February; it can meet its commitments until at least May 2025. Regardless, the utility needs more equity....
...Once Thames Water is in administration, the government can then do a public share offering to Thames Water customers, inviting them to subscribe for shares, to own their own utility....
...Now the question is whether Thames, with its labyrinthine structure and debt load of £18.3bn, can avoid collapsing into public hands....
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...But it is far from clear that they would want to own a troubled company that needs billions of pounds of investment and that has attracted public anger over sewage outflows....
...There are good reasons for the world-beating performance of some public sector utilities....
...The irony of this situation is that the public looks like it may have created a scenario whereby it ends up owning equity whose value it has inadvertently helped to destroy....
...Britain cannot promise European levels of public service provision, with American levels of taxation — particularly with the country’s current poor growth rate....
...The board of Thames Water, Britain’s largest water company, was locked in crisis talks on Wednesday after shareholders refused to confirm they would provide about £3bn of fresh equity that is necessary for...
...The Financial Stability Board, which includes the world’s leading finance ministers, central bankers and regulators, said on Wednesday that after assessing a series of recent market panics, many funds and...
...of Japan....
...“One read of [Buffett’s] letter is they’re not going to put money into utilities besides the ones they own and potentially cause [PacifiCorp] be turned over to the public or be put into bankruptcy,” one...
...utilities....
...Even the state of New Jersey admits the rule makes the public introduction of hydrogen vehicles “impossible”, and commercial operators say it has forced them to look elsewhere....
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