Thames Water

[HettonSAFC]

14 fecking billion of debt. I had no idea it was that large. No way can they service that.

Just said on the news they (water companies) were debt free when sold off. Now a combined debt of £60billion

 

[monkeytassle]

Just said on the news they (water companies) were debt free when sold off. Now a combined debt of £60billion

Times have changed tbf. I'd issue a load of debt at 2% if I could. Which is essentially what's happened over the last decade or so

 

[CEF]

Water, like all utilities, should be nationalised.

Agree, but the state of nationalised Scottish Water would suggest it mightn't be the silver bullet people would hope. Still needs to be ran in a competent manner.

 

[Qwerty]

Agree, but the state of nationalised Scottish Water would suggest it mightn't be the silver bullet people would hope. Still needs to be ran in a competent manner.

If it's nationalised and people aren't happy they can hold the government to task.
We have nothing over privatised water companies, we cant change supplier.

 

[Market Where?]

Times have changed tbf. I'd issue a load of debt at 2% if I could. Which is essentially what's happened over the last decade or so

But would you have handed the cash you borrowed to shareholders whilst pumping human shit into rivers?

 

[Qwerty]

On the interest rate thread people are saying lenders need to be careful that borrowers can make repayments. Yet in this case lenders have dished out £16b which has been spunked to shareholders

 

[WHD]

And you do realise UK institutions own foreign assets too?

Foreign infrastructure like water?

 

[The]

You’d expect shit like this ti happen in Russia. Taking a massive wage, running up debt, not investing and then dumping hazardous waste on the sly. Should be prison sentences.

 

[monkeytassle]

Foreign infrastructure like water?

Yes

 

[WHD]

Yes

Which companies and which country's water?

 

[monkeytassle]

Which companies and which country's water?

Schroders

 

[Town End Farmer Giles]

Which companies and which country's water?

Not sure specifically about water but most large diversified pension funds will have exposure to infrastructure such as power stations, roads, ports, all sorts of things, worldwide

Maybe not at the level of the USS to Thames Water mind.

 

[WHD]

Schroders

What water companies do they have shares in?

 

[Swindon On Tour]

A natural product, serving £14 million in debt.
Absolute disgrace.

They poisoned one of the Rivers down here, the Cherwell.
We lost a few fish on our club water, a few years back, the EA got them to re-stock.

Just common now to see the clouds from the outpouring of treated sewage.
No fish, a dead river. Country a disgrace.
Club now disbanded, I gave up.

 

[monkeytassle]

What water companies do they have shares in?

I'm not trawling through the disclosures but I can guarantee they do.

 

[Billericay Dichio]

Exclusive: UK water giants recruit top staff from regulator Ofwat

A light hand when it comes to regulation ensures a nice private sector salary.

 

[DaveH]

Exclusive: UK water giants recruit top staff from regulator Ofwat

A light hand when it comes to regulation ensures a nice private sector salary.

While people move around in the same sector, so it is understandable, Ofwat has continually been criticised as being too soft. There needs to be a period of a few years working in Ofwat to working for a water company. While the individuals may not have directly negotiated their next job while waving through dubious practice, if it is personally beneficial for those at the top to go easy on the water companies, that has to cloud judgement.

It is a bit like MPs immediately going to work for companies they have just helped with legislation.

 

[MonkeyLove]

I would say they are done now.

You mean Sarah Bentley?

Hardly her fault. She took over in 2020 and the debt pile was almost 13 billion then.

Her biggest mistake was probably taking on a poison chalice

 

[Wild Card]

Good article by the ft. Probably the only paper worth it's salt these days.

Let Thames Water die to teach everyone a lesson, says Citi

It’s time for some water utility game theory

www.ft.com

 

[Barry Quizshow]

Good article by the ft. Probably the only paper worth it's salt these days.

Let Thames Water die to teach everyone a lesson, says Citi

It’s time for some water utility game theory

www.ft.com

I saw also linked in that article was Liv Garfield's (CEO Severn Trent) proposals to reform utilities as "social purpose" companies to make them more palatable to a Labour government whilst keeping them in private hands.

I'll be interested to see if any of her proposals get off the ground and if so how they are implemented given in theory at least it will reduce the dividends available for the shareholders.

As to the rest of the article absolutely spot on