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Is Thames Water about to collapse?

Bingoman

Bingoman

Well-Known Member
The Government drawing up contingency plans for the collapse of Thames water are they in trouble?

Are other water companies in trouble or just thames water and are you concerned about this development?

news.sky.com

Ministers weigh contingency plan for collapse of Thames Water

Whitehall officials and Ofwat, the water regulator, have begun assessing the scope for a special administration of the UK’s biggest water company, Sky News learns.
news.sky.com news.sky.com
 
are they not going to charge us all a lot.more money because of sewerage being no longer allowed to be pumped into the waterways of England

before they just worked the fine into the projections on annual profit

:hmm:
 
Bingoman said:
The Government drawing up contingency plans for the collapse of Thames water are they in trouble?

Are other water companies in trouble or just thames water and are you concerned about this development?

news.sky.com

Ministers weigh contingency plan for collapse of Thames Water

Whitehall officials and Ofwat, the water regulator, have begun assessing the scope for a special administration of the UK’s biggest water company, Sky News learns.
news.sky.com news.sky.com
Click to expand...
The government are always in trouble
 
moochedit said:
Nationalise them. Problem solved. Next.
Click to expand...
Yes, all of the issues including environmental degradation and soaring consumer bills derive from the private ownership of the natural monopolies.

The basic fundamental problem with asset-manger ownership is that they are driven, not only by the investor dividends that an be squeezed from the ‘captive audience’, but also the regular capital gains that can be realised by churning ownership. Hence the massive asset manger outfits,like Macquarie, obsess about boosting their multiple of invested capital figures (MOIC) that will ‘add value’ at re-sale. Of course, this means that during their brief period of ownership the asset managers will insist on minimum investment and maximum dividends and sometimes simply borrow to boost dividends.

Needless to say, the wealth extracted from consumers and state subsidy ends up beyond the tax regime of the hosting polity.

Legalised theft.
 
And, of course, it's debatable whether or not 'nationalisation' by a neoliberal, consolidator state is the answer. Asset manager society has developed precisely because the ideology of the main UK political parties has willed it, and they will clearly only re-nationalise as part of the de-risking 'contract' with the asset manager corporations. It's no coincidence that this whole sector of the economy remains beyond regulation and is 'overseen' by toothless bodies that have themselves been deliberately hollowed out.

I think Nine Bob Note neatly sums up above how the blue/red tories would see any 're-nationalisation'; take on the debt, hold for a short while then, having de-risked, sell on to another set of asset manager criminals. Same old, same old; privatise the gains and socialise the losses.
 
Typically, there's been an interruption to the water supply in Hammersmith and Shepherds Bush. It's the second time in the space of a month this has happened. There are two hospitals in the borough, too.
 
It's impossible to create true competition as there's only one set of pipes.
So there's no benefit to the customer of it being private. Only to wealthy investors.

It needs to be made public and bloody well stay public.
These are the very things we pay taxes to have government for. To set up and run communal stuff like defence, roads, water and sanitation etc.

If the government are so keen on handing over the responsibilities of government to corporations we might as well just do away with the government and taxes.
 
Natural monopolies innit. Same reason that trying to treat railways as if they are subject to consumer choices in the "fReE mArKeT" only ever works out for the greedy shit-dicks at the top creaming off revenue. The rest of us have to deal with shitty services and neoliberal lies.
 
Nine Bob Note said:
Hows about we nationalise them, spend a fuck-ton of dosh fixing them up and then flog them off again? Everyone wins! 🤑
Click to expand...
The trouble is this is exactly what will happen. Nationalisation is pointless under our current political system, The water companies have something like £50Bn plus in debt. Nationalisation would just result in that being added to the public debt. The public then forks out squillions to fix all the leaks only for a future Conservative majority government to flog them off again debt free.
Until the system is fixed to prevent Conservative majority governments then this is just an expensive merry go round.
 
Thames Water are utter fucking shitballs. I wish instant death on the company and I'd like to see all their overpaid greedy parasitic bosses lose their flash homes and fat income and have to struggle like the rest of us. Utter scum.

*Yes, I have not had a good experience with this company. :)
 
MickiQ said:
a future Conservative majority government to flog them off again debt free.
Click to expand...
Labour would do it first. What we have is unanimous agreement among the pols that nationalisation is over. They will take in failing operatrors, return them to health at the publics expense then give them back to the private sector. So its not about tory majorities or labour majorities. None of them have any intention of changing this.
 
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