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...Southern Water and Thames Water declined to comment further....
...AIIP was set up by PFI investors and advisers including InfraRed Capital Partners, Dalmore Capital and Equitix Investment Management to represent the sector....
...That has left the company rushing to raise more than £3bn in fresh capital by 2030, including £750mn by next year, to keep services running and improve its water and sewage infrastructure....
...The water company is owned by a clutch of investors, including pension funds Omers and USS, and the Abu Dhabi and Chinese sovereign wealth funds....
...inflation and a series of fines for sewage pollution....
...“Even this does not take into account the need for future increases to replace aged assets and deal with resilience and climate change,” he added....
...The proposed bill increases come amid widespread anger against water companies for high leakage rates and for tipping unknown quantities of raw sewage and storm water into the sea, lakes and rivers....
...and sewage services to millions of customers....
...The £9mn credit trading scheme, which was announced in the Budget, requires the establishment of a new market framework and operator, which would match buyers and sellers of water credits....
...Regulator Ofwat is still considering that plan, and is set to publish a draft ruling on June 12 and a final assessment by the end of the year....
...But investors — including the pension funds USS and Omers as well as the Chinese and Abu Dhabi sovereign wealth funds — have deemed the company “uninvestable” and are refusing to invest any more money into...
...The FT’s Gill Plimmer joins me now to talk about it. Hey, Gill. Gill PlimmerHi. Sonja HutsonSo what’s the latest when it comes to Thames Water?...
...Thames Water has an £18.3bn debt pile, and its shareholders include Chinese and Abu Dhabi sovereign wealth funds, and Canadian and UK pension funds....
...And for that, we’re joined by the FT’s infrastructure correspondent, Gill Plimmer. Hi, Gill. Gill Plimmer Hello....
...valuable minerals such as lithium and rare earth metals from the brine stream, and better control of membrane scaling and fouling....
...on Thursday and confirmed by government officials....
...Kemble and Thames Water declined to comment....
...to invest in pipe and sewage networks....
...Shareholders have asked the regulator Ofwat for a 56 per cent increase in bills and leniency on fines....
...Thames Water’s shareholders — which include pension funds Omers and USS as well as the Chinese and Abu Dhabi sovereign wealth funds — are dissatisfied with progress in the discussions with Ofwat, according...
...of China and Abu Dhabi....
...The company needs £3bn of equity by 2030 just to pay its staff and suppliers, and to pay for maintenance and infrastructure improvements....
...Most conflicts go to arbitration and are settled confidentially, according to one PFI lawyer. The disputes can be not just expensive, but bitter and acrimonious....
...“You end up with gold-plated utilities and high costs....
...planning and bidding decisions.”...
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