Thames Water’s debt costs have skyrocketed due to a sharp rise in interest rates and the environmental damage it is responsible for, leading to the resignation of its CEO at the end of June. Ben Stansell/AFP
The British Conservative government is considering nationalizing the highly indebted Water Company.
London
14 billion pounds sterling (16.4 billion euros) in debt, huge leaks and millions of liters of sewage dumped into the rivers every year: Thames Water, the private company that supplies water to 15 million Britons in London and the South East of England. Half measures don’t do. This disastrous mismanagement of water and its finances, which lasted for several decades, eventually took its toll on the giants of the entire Channel area. The exorbitant increase in interest rates that has increased the cost of its debt and the environmental damage for which it is responsible led its CEO, Sarah Bentley, to resign at the end of June.
Times are so dire for Thames Water that Rishi Sunak’s Conservative government is studying the possibility of renationalising the company, an option that is still light years away from its liberal ideology, and Margaret Thatcher’s 1989 water privatization decision is against. Distribution.
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