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...The UK’s water regulator has lashed out at the country’s water utilities for paying “significant dividends” to shareholders while failing to fix their poor environmental record, in comments that pile more...
...Investor jitters come as Ofwat is pushing them to inject more cash into the utilities....
Utility wants to raise bills by 56% by 2030 in effort to stop investors walking away
...Rishi Sunak has dispatched his business adviser to grapple with the crisis facing Thames Water, in a sign of jitters inside government about the potential collapse of Britain’s largest water utility....
Europe’s largest power utility plans to commit €14bn of investment package to country in next 3 years
...SE Water said: “In common with many utility companies, South East Water’s cost of financing increased year to year predominately due to the inflationary environment....
US bank says higher interest rates, inflation and global conflict have dented outlook for energy transition
...(Ethan Wu) Utilities might not be boring The problem with any analysis of the utilities industry is that people are unlikely to read it....
...Abu Dhabi energy group Taqa is in talks that could lead to a multibillion euro takeover bid for Spanish utility Naturgy and extend a Gulf push into European industry....
...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....
...Macquarie, the former owner of Thames Water criticised for loading the utility with debt, is a lender to its stricken parent company....
...European equities rose on Wednesday, pulled higher by strong gains for utilities and consumer groups. The region-wide Stoxx Europe 600 was 0.1 per cent higher on the day....
...If nothing else, it’d be a welcome example of a utility owner cleaning up its own mess....
...The customer-owned utility....
...Shouting matches between utility companies and regulators are common in the UK....
...The utility, which supplies 16mn people — or about 25 per cent of the population of England and Wales — is struggling to stay afloat after its shareholders refused to put more money into the heavily leveraged...
...European equities slipped on Thursday, pulled lower by a decline for healthcare stocks and utilities. The region-wide Stoxx Europe 600 was down 0.1 per cent....
...The City veteran agreed to oversee Britain’s biggest privatised water utility last July. Since then, fears over its financial health have reached feverish levels....
...the restructuring experts, will discuss all options with creditors, which include bank lenders and bondholders, as the government tries to avoid a temporary renationalisation of the UK’s largest water utility...
...Further reading:— Seven common misconceptions about the Thames Water crisis (FTAV)— Fix your UK water utility with this one simple trick (FTAV)— Let Thames Water die to teach everyone a lesson, says Citi...
...“You end up with gold-plated utilities and high costs....
...By 2006, when the Australian asset management firm Macquarie bought Thames Water from the Germany utility group RWE, the water company had £3.4bn in debt....
...utility industry veteran said, highlighting “a little bit of nastiness underlying the letter”....
...The region-wide Stoxx Europe 600 dropped 0.2 per cent, with utilities and rate-sensitive real estate stocks among the worst-performing sectors....
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