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...There are also class-action claims brought by campaign groups. In the letter, Coucher warned that the number of “criminal convictions” faced by water companies was too high....
...Lenders may agree to an extension but they are also seeking clarity over whether Thames Water will be allowed to continue to pay dividends to companies in the wider group, including Kemble, to service debts...
...Two Chinese state-owned banks hold a crucial role in the future of Thames Water, as part of a group of lenders involved in a stand-off over debt at the parent company of Britain’s largest water utility....
...Already-poor service levels would deteriorate further. In the meantime, there is a risk of Thames’s toxicity starting to pollute other water companies....
...Shouting matches between utility companies and regulators are common in the UK....
...The group as a whole is saddled with at least £18.3bn of debt, which has become increasingly expensive to service because of the sharp rise in interest rates since late 2021....
...This month, the parent company of Thames, the UK’s biggest water group, defaulted on a £400mn bond, part of the group’s £18.3bn stack of debt....
...Berkshire noted that in January the federal government indicated it intended to sue over unpaid costs incurred by the US Forest Service for fire suppression and emergency response related to a 2020 blaze...
...Investors have demanded scope to increase bills and loosen rules over paying dividends, despite public anger over sewage discharges and the service record of the privatised utility....
...The shareholders last month signalled their readiness to take an estimated £5bn loss on their investment as they ruled out injecting new equity into the group....
...“The perceived trade off is that utility commissions lose control when large multinational utilities take over the local utility and that their ability to address things like service quality decreases....
...The group estimated the rule would cost airlines $33bn over 10 years....
...He will remain as chair and director of Thames Water Utility Limited, the only part of the group that is regulated by Ofwat....
...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....
...Amazon Web Services, the tech giant’s cloud computing unit, bought the centre from US power generator Talen Energy, which developed the site adjoining a nuclear power station....
...Earlier this month, 1Komma5 announced that it had acquired Australian solar provider Arkana Energy Group. Schröder said 1Komma5 was now the third-largest solar provider in Australia....
...Macquarie put in place a so-called “whole-business securitisation”, where the utility’s cash flows service different tiers of debt....
...Mupita said the group was seeking a new round of minority investment into the business....
...A private letter sent by the regulator on March 11 demanded that in addition to reducing group debt and improving infrastructure, shareholders consider a stock market listing and breaking up the utility,...
...The utility is also being investigated by Ofwat over the accuracy of information it provides on leakage and water consumption....
...Kemble, which has no other source of income other than bills paid by Thames Water customers, requires the dividends to service its debt....
...Thames Water meanwhile pays dividends that service debts of parent companies. In October, it gave £37.5mn to its immediate parent, Thames Water Utilities Holdings Limited....
...Kemble is the company set up to raise finance for Thames Water, which needs the cash to service its massive debt load....
...China’s state-owned giants, China National Nuclear Corporation and China General Nuclear Power Group, are also expanding rapidly....
...The Utilities Select Sector SPDR Fund is down 4.4 per cent over the past year. Identifying Phase 3 is a little trickier....
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