monkeytassle
Striker
14 fecking billion of debt. I had no idea it was that large. No way can they service that.
Thames Water
- Thread starter monkeytassle
- Start date
They've been working hard on it for years:
4.8 billion in 2008
Thames Water seen at risk due to high debt
Thames Water <MBL.AX> is among a list of 11 debt-laden utilities at financial risk from the credit crisis, an investment bank has warned.
www.reuters.com
8 billion in 2014
How Thames Water will pay next to nothing for a £4 billion tunnel
London’s Victorian sewerage system is creaking and in dire need of renewal. The proposed solution: a 25km “super-sewer”, the Thames Tideway Tunnel, running from west to east across the capital at an estimated…
theconversation.com
On the bright side, shareholders got a 1.4 billion dividend and the CEO got a 496 thousand pound bonus in 2022.
0verlord44
Winger
wow, how do you lose that amount of money whilst literally dumping shit everywhere?
Ivor Biggun
Central Defender
Nationalise the losses, privatise the profits.
ravydavygravy
Striker
The privatisation of water companies is a disgrace. Water ffs.
Plus london watta tastes shite.
Plus london watta tastes shite.
Wearside Wanderer II
Striker
Fuck the cockneys, hope the sewers burst and London floods, I’ll sell them boats so they can safely get to France.
Mr.Thunders
Striker
They want some of our water but can fuck off.like
Napoleon Dynamite
Striker
Should do jail for shit like that
SR7
Winger
100%, with you on that.
Their current account must be empty.
My apologies, I glanced at your username and read Turdinthetide which I thought was very apt considering the thread content.
No problem shipmate, I think Thames Water's problem will take time to flush.
Just saw an headline on the BBC (Papers Headlines Section) that water bills could go up 30-40% due to the climate goals, sewage regulations type things. Never rains but pours on the regular folk- it seems.
Luca Changretta
Central Defender
A case for nationalisation, so much for the markets looking after our utilities
How much is the Thames Tideway Tunnel costing them? Seems to be taking longer than Crossrail that.
When the water business was privatised I recall that part of the reason was to raise £££ to improve the infrastructure.
It’s transpired that foreign owners and shareholders have mainly benefited.
Leon Solent
Striker
I think Thames Water paid out £1.2bn to shareholders last year and its CEO received a £490K bonus. Total failure all round, including Ofwat, but well rewarded for it. It's just immoral that there is no accountability.
monkeytassle
Striker
Not that I am condoning the dividend payments but the majority of large shareholders are pension funds.
