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    Thames Water says it has enough cash until May next year
    United Kingdom

    Thames Water says it has enough cash until May next year

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    18 Comments

    1. wkavinsky on

      From bankrupt and needing to increase bills by 40% per user, to having enough cash for at least a years operations in a week.

      Apparently a government that might very well take them back into public ownership was all they needed.

    5. ken-doh on

      while paying out a £158 million dividend. Thames Water are shameless. The watchdog needs to be able to block dividends from utilities in financial strife.

    6. gororuns on

      So pretty much if they don’t get additional funding by the end of the year, they will go into administration.

    7. Andrew1990M on

      Ah fuck. Now we’ve got bloody Labour we have to start thinking about the country lasting passed next May. 

      Edit: Do I have to put a /s on something this blatantly facetious?

    9. Thebritishdovah on

      Suddenly, they aren’t fucked. Me thinks, they went “Oh fuck, we actually need to be careful. best declare we are good till next year as the new lot may not bend over backwards to bail our shareholders out.”

    10. teasizzle on

      Is that so they can pay dividends to their shareholders after the financial year?

    11. Brottolot on

      Hope it doesn’t get re-nationalised. Hope the government just sets up a rival company and allows it to fail.

    12. Original-Material301 on

      Why the fuck is water privatised when there’s zero competition since you’re locked into the supplier for your postcode…..

    14. reckless-rogboy on

      How are they both running out of money AND making 150millon in profit?

    15. Glum-Manner-9972 on

      Based on another experience I had in another company that went into administration and then collapsed, the time frame is likely less than half of that 

    16. No-Jackfruit-9165 on

      Scottish Water isn’t perfect but at least it isn’t the shit show that you have with the privatised companies.

    17. IamBeingSarcasticFfs on

      They need to pass legislation that secures the assets of the company does go bust. Then they can let the markets take their course. There would need to be some payment to the lenders for the assets but below market rate.

      We should not be on the hook for £15 billion

    18. McShoobydoobydoo on

      Cool story TW, tell us when you run out and we’ll buy everything for £1.

      Remember the value of investments can go down as well as up 👍