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Utilities
South East Water owners provide £150mn loan to ease financing pressures
...The owners of South East Water, under investigation for severe supply failures, have provided a £150mn loan to a unit in the utility group as it struggles with higher financing costs on its debt....
February 12, 2024
Thames Water
Rishi Sunak parachutes Franck Petitgas into Thames Water talks as crunch point looms
...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....
March 22, 2024
FT Live
Infrastructure Investment in Latin America and the Caribbean
Identifying opportunities for investors and asset managers
Wednesday, 12 June237 Park Avenue, New York, NY, USA
Thames Water
Chinese state banks are lenders to Thames Water’s parent company
...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....
April 4, 2024
Utilities
Planned water bill rises ‘unaffordable’ for most customers, says UK watchdog
...Colm Gibson, managing director of Berkeley Research Group, said that “companies will need material bill increases to deliver the improvements in the sewage and water networks promised”....
March 13, 2024
Thames Water
Thames Water lobbies for higher bills, dividend payouts and lower fines
...Kemble, which was set up to raise finance for Thames Water, needs the dividends to service its debt but new rules introduced last year forbid water utilities with poor financial records from making payouts...
February 27, 2024
UK infrastructure
Water crisis plan for UK puts ‘too much reliance’ on metering, says ex-minister
...Clara Todd, founder of Water Sensitive Cambridge, a pressure group, said there was a lot of “speculation and uncertainty” over the proposals and as “with other environmental markets it could be open to exploitation...
March 11, 2024
FT Live
Investing in Piauí – Brazil
Exploring business opportunities and delivering sustainable growth
Friday, 17 May22 Vanderbilt, Madison Avenue, New York, NY, USA
Thames Water
Thames Water owners pile group with debt
...Kemble then “cascaded” £500mn of this borrowed money down the chain of holding companies that own Thames Water into the regulated utility....
December 1, 2023
Thames Water
No one has security over Thames Water’s assets
...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...
April 16, 2024
LexThames Water
Thames Water could benefit from a spell of public ownership Premium content
...Contagion risks include greater regulatory scrutiny for other firms, debt becoming more expensive and short sellers zoning in on the shares of publicly traded water groups....
April 18, 2024
Thames Water
Former Thames Water owner Macquarie among lenders to utility’s parent company
...Macquarie, the former owner of Thames Water criticised for loading the utility with debt, is a lender to its stricken parent company....
April 9, 2024
LexThames Water
Thames Water enters its end game Premium content
...It is an embarrassing policy failure that the UK’s biggest water utility is drowning beneath its financially engineered, debt-laden structure....
March 28, 2024
Inside BusinessPatrick Jenkins
What UK water can learn from global banking
...utilities....
April 15, 2024
Thames Water
Hunt says Thames Water must ‘sort out’ its own issues
...Hunt said on Wednesday he would not tell a private company how to structure its balance sheet, adding that it would be “completely wrong” if customers at Britain’s biggest water group had to pick up the...
April 17, 2024
UK infrastructure
Thames Water shareholders backed away over regulator’s debt demands
...By April 5, Thames Water’s parent group said it had defaulted on payments on a £400mn bond....
April 12, 2024
Thames Water
Thames Water owners to begin urgent restructuring talks
...utility....
March 31, 2024
FT Live
Future of Asset Management Europe
New fund firm models for Europe's resurgence
Tuesday, 12 NovemberLondon, UK
Thames Water
Thames Water shareholders signal readiness to take £5bn hit
...While Thames Water’s management has long insisted that Kemble’s travails should not have an impact on the regulated utility, the water company’s bonds also traded down....
March 28, 2024
ExplainerThames Water
What next for Thames Water?
...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....
March 29, 2024
Thomas Sharpe
The political temptations of ‘nationalisation-lite’ at Thames Water
...Colm Gibson, managing director in Berkeley Research Group’s economic regulation practice, also contributed As concerns about England’s privatised water companies grow and MPs debate the government’s contingency...
March 13, 2024
Thames Water
Thames Water’s parent company defaults on debt
...’s largest water utility....
April 5, 2024
Due Diligence
Are Thames Water investors ‘blackmailing’ Britain? Premium content
...In today’s newsletter: Britain’s biggest water utility circles the drain Elliott’s stuck in an AC Milan fight Byju’s investors try to oust its founder Britain’s biggest water utility circles the drain...
March 29, 2024
Thames Water
Montague to step down as chair of Thames Water’s parent company
...He will remain as chair and director of Thames Water Utility Limited, the only part of the group that is regulated by Ofwat....
February 16, 2024
UK infrastructure
Water companies told to install monitors on 7,000 sewage pipes
...By contrast the emergency overflow pipes are meant to operate only in urgent circumstances such as power outages and failures that are not “due to the act or default of the water company”, the EA said....
March 25, 2024
The FT ViewThe editorial board
The cautionary tale of Thames Water
...Things have come to a head at Thames Water, whose £18.3bn group debt is in part a legacy of its 2006-17 ownership by Australia’s Macquarie, which extracted jumbo returns....
March 31, 2024
Thames Water
Thames Water board locked in crisis talks about £3bn funding plan
...The government is keen to avoid a nationalisation of Thames Water in an election year and is optimistic that, even were Kemble to collapse, it can restructure the group debt or bring in new investors to...
March 27, 2024
Frédéric Blanc-Brude
Thames Water debacle holds a harsh lesson about asset pricing models
...At the end of 2022, a group of large pension plans, including funds from Canada, Japan and the UK, discovered that they had lost a large part of the £5bn investment in Thames Water that they had recorded...
April 8, 2024

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