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...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....
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...and sewage services to millions of customers....
...The utility has been grappling with high inflation on overall group debt of £18bn, while the government has drawn up emergency plans in case it requires temporary nationalisation....
...bondholders to seize assets if Thames Water is unable to service its debts....
...In 2016, the TVA became the first US utility to bring a new reactor online this century. Unlike the militantly online wing of nuclear activism, Noe seems unconcerned with winning meme wars....
...Customers would have to service this debt regardless. However the weighted cost of debt is only about 2.5 per cent, so affordable....
...And for all of the histrionics of Musk, there is not even a hint that other big public companies are set to abscond to Texas, Nevada or any other state....
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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....
...utility industry veteran said, highlighting “a little bit of nastiness underlying the letter”....
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...And utilities might be a bit *ahem* exposed....
...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....
...s largest water utility....
...In most of the world, he believes that political control of utilities leads to chronic under-investment....
...That in turn would threaten to push its (already dismal) service levels below the standards required by its licence....
...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 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 debt inside the regulatory ringfence — which surrounds the core utility and means it has to abide by regulatory conditions — plunged to little over half of its face value....
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...TripAdvisor, the internet company whose backers include media mogul Greg Maffei, recently held a vote to move to Nevada, which unaffiliated shareholders overwhelmingly rejected....
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