Renationalise Thames Water

[teslacoils]

In general, I don't like the state owning things. But surely this is an idea time to return one of the "natural monopolies" to state hands? Filled with debt by venture capital, used to divert money from investment to dividends. Water privatisation so bad. Here's a chance to return it to public ownership.

 

[Hindsight]

In general, I don't like the state owning things. But surely this is an idea time to return one of the "natural monopolies" to state hands? Filled with debt by venture capital, used to divert money from investment to dividends. Water privatisation so bad. Here's a chance to return it to public ownership.

Just reading this on the BBC website. My how we are returning to the 80s. Nationalised Railways. Nationalised Water Suppliers. Looks as though only safe pensions are as ever those of civil servants. Why did i ever leave !

 

[robs1]

How were they able to get away with this I though the ombudsman was meant to oversee these people, ah I see a problem, just let it go bust and buy it off the administrator, the shareholders have had the cash in dividends so most aren't losing much. Is there anything in this world that's not corrupt

 

[teslacoils]

How were they able to get away with this I though the ombudsman was meant to oversee these people, ah I see a problem, just let it go bust and buy it off the administrator, the shareholders have had the cash in dividends so most aren't losing much. Is there anything in this world that's not corrupt

One day ombudsman....next day non exec director. It's just a back scratching exercise.

 

[arcobob]

I grew up in the day of nationalised industries and remember how government short termism and inefficiency rendered them unreliable and useless. They were privatised and for a whole raft of different reasons nothing changed because the regulatory bodies are mired in corruption. Where do we turn? This is not looking good for future stability of this country.

 

[spin cycle]

must be a nightmare repairing leaks in built up south east

 

[arcobob]

must be a nightmare repairing leaks in built up south east

That is where central government spend their money as opposed to East Anglia. Anglian water will be next.

 

[Ashtree]

‘Twas the EU that done it.

 

[teslacoils]

That is where central government spend their money as opposed to East Anglia. Anglian water will be next.

Aw has £6.5bn debt, of which much is based on RPI or floating rates. It's revenue in 2022 was only 60 percent of that of Thames Water.

 

[ollie989898]

I believe we should renationalise everything.

 

[teslacoils]

Mounting debts and public anger could finally sink water companies in England and Wales

Firms have loaded up debt to pay dividends and been fined millions for dumping raw sewage into rivers

www.theguardian.com

 

[teslacoils]

I believe we should renationalise everything.

Not quite on topic. plenty of privatised industries - electric (not distribution of), telephones and gas have been successful.

 

[neilo]

Utilities should never have been privatised IMO, whether water, electric or gas. This would seem an ideal time to get the ball rolling on regaining control from those that have been milking us all whilst taking the pee on environmental regulations.
The company will only cost £1 just now, rather than the taxpayer having to buy out shareholders when Labour get in. I understand that Thames Water is mostly owned by pension funds, both UK and foreign (Canadian?), so there will be fallout whatever happens to them.

 

[Bury the Trash]

In general, I don't like the state owning things. But surely this is an idea time to return one of the "natural monopolies" to state hands? Filled with debt by venture capital, used to divert money from investment to dividends. Water privatisation so bad. Here's a chance to return it to public ownership.

water companies in the Country need there arsholes kicking and really hard several times.

 

[Poncherello1976]

I see that the new chair person for TW is a former chief executive of OFWAT. Keep the merry go-round going! Reminds me of NFU and RT!

 

[Exfarmer]

The owners at Present are mainly pension companies, yours, mine, Canadian etc.
to nationalise them will be a straight kick in the teeth for millions of pensioners and others saving into pensions, except of course those with government backed pensions
there is no doubt all the problems are extreme miss management but also government pressure for them to clean up a century of previous under investment by their state owner at the same time as bringing in draconian regulations on abstraction and waste water release, extreme pressure to suppress prices to the consumer.
just look at one project being undertaken by Thames water The Tideway project, probably the most ambitious sewage project in the world with a bill to match.
current government demands for water companies to clean up their act at the cost of shareholder ( you and I ) dividends means the share price drops and so their ability to borrow money against a falling company value increases, ergo company fails

 

[JP1]

How were they able to get away with this I though the ombudsman was meant to oversee these people, ah I see a problem, just let it go bust and buy it off the administrator, the shareholders have had the cash in dividends so most aren't losing much. Is there anything in this world that's not corrupt

In all my dealings eg Ofcom , NICE etc, I've found the ombudsmen absolutely wanting. They fraternise with those they should regulate and are weak beyond belief

By the way what does the Grocery Adjudicator actually do?

 

[delilah]

Vote Green. Sorted. Next question.

 

[delilah]

By the way what does the Grocery Adjudicator actually do?

Holds the torch for the NFU. So that they don't get lost up Tesco's arse.

 

[Exfarmer]

In all my dealings eg Ofcom , NICE etc, I've found the ombudsmen absolutely wanting. They fraternise with those they should regulate and are weak beyond belief

By the way what does the Grocery Adjudicator actually do?

I only know the electricity industry, the regulator there is a waste of space