Thames Water.

Probably the right time to renationalise, after im guessing they will possibly go into administration. Director penalties. No divis. Without offwat intervention.

BBC News - Thames Water fined £122.7m in biggest ever penalty
https://www.bbc.com/news/articles/cgeg5vy9q8eo

 

Good. They deserve to go bust as long as all their debts are paid (and not to management)

 

I'd say the article suggests they've gone bust. I see no other option. But administration.

 

Surely it would only be right for management and shareholders to foot the bill. After all they were all very keen to reap any financial benefits in the past.
And tbh I’d have all Londoners drink dirty water. [emoji]

 

Ahem

 

Agree with that (about the shareholders, not Londoners!)

Just seen that Fred Goodwin's pension is now £600k a year. Unbelievable how people are rewarded for such abject failure.

 

Great news,the money tree has been felled.

 

This annoys me

"The watchdog confirmed the fines would be paid by the company and its investors, and not by customers who were hit with water bill increases last month."

Of course it's the customers paying the fine. If ofwat gave them permission to raise their prices then ofwat are allowing customers to foot the bill.

 

“Mass immigration means areas of Britain face running out of drinking water in just 10 years, ministers have warned”.
Opening lines of an article in today’s press

 

Best get some desalination plants built then.
Or traipse over to Todmorden to use aunties shower. Trevor Newton bless him.

 

In 2008 (I think) Thames Water was bought by a merchant bank (ideal people to run a water company ), at the time the debt was £3.5Bn, several years later they sold it, making about £4Bn profit, with the company then having debts of £10Bn. If such a thing happened anywhere else, the media would have branded it as corruption.

I bet nobody on here knew anything about this, I only heard about it the other day. These people should be in prison.

 

I know it is only peanuts to them, but I had a walk round Farmoor Reservoir (near Oxford) and owned by Thames Water, yesterday. It has all types of water sports, fishing and nature reserves. The car park charge is £2 but the machine is out of order so it is free. I think this is just as it was two years ago when I was last there.

 

I got my Yorkshire Water bill today and its gone up over 40 % the regulaters aren't fit for purpose in my view.

 

They’ve had multiple owners since privatisation. Currently owned by a very wide series of funds and investment groups.

They used to be a client around 8 years ago. Some really good people in senior management but not at the top table.