Brexit and Covid opportunistic greed is a Tory badge of shame.
Thames Water - £13bn debt - going under
- Thread starter SirGalahad
- Start date
- Joined
- 1 Apr 2016
- Messages
- 13,610
- Reaction score
- 552
- Country
Or dumb enough to realise that privatising natural monoplies doesn't work out for the consumer.
I was quite happy with my free shares that I got for BT or Gas or Water or whatever. I think I sold them for £300+ Everyone I knew sold theirs too.
- Joined
- 22 Dec 2021
- Messages
- 2,416
- Reaction score
- 340
- Country
It's like some folk think something went horribly wrong here & it never happened before & it will never happen again.
What has happened here has happened because the people who make this sort of thing happen WANTED it to happen so they set about MAKING it happen.
What has happened here has happened because the people who make this sort of thing happen WANTED it to happen so they set about MAKING it happen.
Not something I've claimed.
Thames Water has admitted it has failed to install a single smart water meter under a flagship £70m programme to fit hundreds of thousands of the devices to support the UK’s “green economic recovery” from Covid-19.
The company has told regulators and investors that it is yet to begin installing the 204,700 smart water meters promised in the Thames Valley region, which are due to be fitted by the end of March 2025.
In July 2021, the industry regulator, Ofwat, gave the green light to water companies to invest £2.7bn, which could later be recovered through bills, on accelerating a series of projects to “build back greener from the pandemic”, including new bathing rivers and efforts to protect habitats. Thames was earmarked £71.9m under the plan to roll out smart meters in the Thames Valley.
GoGreen@theGuardinia
You'd think they'd at least try to look like they're making an effort...
The company has told regulators and investors that it is yet to begin installing the 204,700 smart water meters promised in the Thames Valley region, which are due to be fitted by the end of March 2025.
In July 2021, the industry regulator, Ofwat, gave the green light to water companies to invest £2.7bn, which could later be recovered through bills, on accelerating a series of projects to “build back greener from the pandemic”, including new bathing rivers and efforts to protect habitats. Thames was earmarked £71.9m under the plan to roll out smart meters in the Thames Valley.
GoGreen@theGuardinia
You'd think they'd at least try to look like they're making an effort...
Sounds like parachuting in a Tory chum as a (highly-remunerated) chief should be the preferred solution to this caper
Even the vultures are flying away.
"Robert Smith in London
Published 54 MINUTES AGO
Thames Water has announced that US private equity firm KKR will not proceed with a planned deal to inject billions of pounds of equity into the group, throwing the future of Britain’s largest water utility into doubt.
Thames Water had selected KKR in March as its preferred partner for an equity recapitalisation deal, under which the US firm would take over the near-insolvent utility and rescue it from the brink of nationalisation.
However, on Tuesday Thames Water said that “KKR has indicated that it will not be in a position to proceed, and its preferred partner status has now lapsed”.
FT.com
"Robert Smith in London
Published 54 MINUTES AGO
Thames Water has announced that US private equity firm KKR will not proceed with a planned deal to inject billions of pounds of equity into the group, throwing the future of Britain’s largest water utility into doubt.
Thames Water had selected KKR in March as its preferred partner for an equity recapitalisation deal, under which the US firm would take over the near-insolvent utility and rescue it from the brink of nationalisation.
However, on Tuesday Thames Water said that “KKR has indicated that it will not be in a position to proceed, and its preferred partner status has now lapsed”.
FT.com
