Thames Water may get just £500m in usable cash by borrowing £1.5bn, court told
https://www.theguardian.com/business/2025/feb/06/thames-water-may-have-less-than-500m-in-usable-cash-despite-15bn-in-emergency-debt-court-told
Posted by F0urLeafCl0ver
Thames Water may get just £500m in usable cash by borrowing £1.5bn, court told
https://www.theguardian.com/business/2025/feb/06/thames-water-may-have-less-than-500m-in-usable-cash-despite-15bn-in-emergency-debt-court-told
Posted by F0urLeafCl0ver
19 Comments
It is absolutely insane – someone needs to pull the rug under these parasites and stop the situation escalating even further.
Just seize the CEO/boards assets. It’s all stolen anyway
So we are just allowing them to walk away with 1bn without anyone seeing any form of repercussions?
I’m sorry but this is an opportunity for the government to show it has some balls…. do *something* ffs.
Someone, or a group of people have to be accountable and drastic measures need to be taken to make an example of what will happen to these privately owned public service scammers going forwards.
Laws need to be tightened, rules need to be put in place, boundaries determined, punishments defined. We cannot have something as critical as our water supply left to rot while they crank up the bills regardless.
Just how badly was something that should have been in public ownership ran?
Enough already. Let it go bust, government takes over, fuck the secured debt and the interest, I dunno send the SAS to anyone’s house that complains
Complex financial layering of businesses and debt laden buyouts need to be banned.
We’ve received a letter this week that they plan to increase our monthly bill by £18, or higher if the rateable value of the property is above average.
Currently we pay £56 monthly. OFWAT is largely responsible for allowing Thames to get away with decades of underinvestment.
I swear this case is a microcosm of our entire country.
Let people get away with corporate bullshit and because they’re corporate level, they can just steal everyone’s money and get away with it, because they can say they “tried” and then they find a new company to do the same to, like some magic roundabout.
Just going to leave this petition here. It’s not my petition. It only has about 3000 signatures.
[Petition](https://petition.parliament.uk/petitions/700436)
“I would like to see the government make plans to gradually nationalise the UK water industry.
Unlike other utilities, we have no choice of supplier, which we think makes water companies uncompetitive.
Ofwat has proposed £168m of fines for three of England’s biggest water companies for failing to manage their wastewater treatment works.”
If a single effing bonus is paid next year then there should be prison sentences. The owners are simply defrauding the taxpayer at this point
Let them go bust and taken over by the regulator.
Water is not a for profit fucking business, it’s a human rights. The fact they want to jack the prices purely to line board members and CEO profits is the biggest red flag.
Throw the lot in prison for extreme financial negligence.
Thames Water: “£500, eh? Time for some dividends for the shareholders!”
People shocked by this don’t understand how loans work
Hold up, didn’t they pay out record bonuses again? How about we audit this
Flatlined UK economic growth due to higher inflation partly caused by, yes you guessed it, higher water bills (according to the Bank of England yesterday).
I wonder if any of this money will be used to fix the piping infrastructure. We lose 3 billion litres of water per day in the U.K. to leaks.
My water bill has gone up sixfold from last year. Fuck Thames Water
Unlike the other main utilities (gas & electricity) water is the only utility that we need as humans to survive thus, should fall under the basic human right to life. The fact that we let these conniving parasites are destroying something that we all need for basic survival is degrading and inhumane. As water is water is also tied to food production it should be renationalised to ensure that the country has access to clean and safe drinking water and that this doesn’t come with the price of damaging the world around it. Otherwise, how are we a 1st world country with such parasitic problems
I did audit for a water company a few years ago and it was insane how much money they were making.
It’s a fairweather industry where they pocket money when things are good and then ask government for money when things are bad.
It’s a lose-lose situation for the public, and, like the railways, the conservatives should be held to account for the insane privatisation of public assets which has not worked in a single industry.