Published 1 month ago

Statement from the shareholders of Thames Water

Summary by Ground News

Thames Water has found itself in financial strife following shareholders' refusal to provide additional capital. The company supplies 16 million households across London and the South East. Jeremy Hunt, the Chancellor, said the government will continue to closely observe Thames Water in the upcoming months. Liberal Democrat leader, Sir Ed Davey, suggested a special administration regime for Thames Water.

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Benzinga

Statement from the shareholders of Thames Water

LONDON, March 28, 2024 /PRNewswire/ -- The following statement has been provided on behalf of all of the shareholders of Thames Water: "Shareholders and Thames Water have been working with the regulator Ofwat for over a year on how to address the complex challenges facing the business. These include both meeting current funding demands and the urgent need for substantial investment to improve performance. "These discussions led to the submissio…

1 month ago·New York, United States

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Shropshire Star

Thames Water management, not bill payers, must carry the can, says Gove

Thames Water’s leadership must “carry the can” for the company’s shortcomings and not pass higher bills onto consumers after successive management teams failed to invest enough, Michael Gove has said.

30 days ago·Ketley, United Kingdom

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Evening Standard

Thames Water management, not bill payers, must carry the can, says Gove

The Communities Secretary branded the water company’s leaders ‘a disgrace’ and claimed the firm had acted in an ‘arrogant way’ towards its customers.

30 days ago·London, United Kingdom

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Sky News UK

Thames Water shareholders blame Ofwat as they pull funding

Shareholders will not be injecting the first £500m of funding that was agreed last summer as industry regulations make the company's business plan "uninvestible".

1 month ago·United Kingdom

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