Worries persist about how the UK’s largest water company will deal with its debts, which rose 7% to £14.7bn.
Concern over its financial strength earlier this year led to speculation it might be taken over by the government.
Concern over its financial strength earlier this year led to speculation it might be taken over by the government.
However, the source of that money was a further loan and the chairman of the Environment Select Committee, Sir Robert Goodwill, has questioned whether Thames has represented its finances accurately.
In response, the company wrote to Sir Robert saying that the £500m “does not increase the debt burden” on Thames Water.
Investors have also said they will pump in an additional £750m but that is contingent on the regulator agreeing to bill increases of 40% by 2030.
Thames Water’s co-chief executives, Cathryn Ross and Alastair Cochran, said: “It is clear that immediate and radical action is required.”
They added: “Turning around Thames will take time. We simply cannot do everything that our customers and stakeholders wish to see at a pace and for a price that everyone would like.
Concern over its financial strength earlier this year led to speculation it might be taken over by the government.
Worries persist about how the UK’s largest water company will deal with its debts, which rose 7% to £14.7bn.
However, the source of that money was a further loan and the chairman of the Environment Select Committee, Sir Robert Goodwill, has questioned whether Thames has represented its finances accurately.
Concern over its financial strength earlier this year led to speculation it might be taken over by the government.
Concern over its financial strength earlier this year led to speculation it might be taken over by the government.
However, the source of that money was a further loan and the chairman of the Environment Select Committee, Sir Robert Goodwill, has questioned whether Thames has represented its finances accurately.
In response, the company wrote to Sir Robert saying that the £500m “does not increase the debt burden” on Thames Water.
Investors have also said they will pump in an additional £750m but that is contingent on the regulator agreeing to bill increases of 40% by 2030.
Thames Water’s co-chief executives, Cathryn Ross and Alastair Cochran, said: “It is clear that immediate and radical action is required.”
They added: “Turning around Thames will take time. We simply cannot do everything that our customers and stakeholders wish to see at a pace and for a price that everyone would like.
#Thames #Water #turnaround #039take #time039
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
