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Thursday 6 July 2023

Government Tries To Avoid Nationalisation of Thames Water


The UK government is considering whether to take Thames Water into public ownership, but ministers believe that the company can be saved from collapse without resorting to nationalization.

Thames Water is the largest water and sewerage company in England, and it serves 15 million people. The company has been struggling financially in recent years, and it is currently £14 billion in debt.

The government has been considering a number of options for bailing out Thames Water, including taking the company into public ownership. However, ministers believe that there are other ways to save the company without resorting to nationalization.

One option is to place Thames Water into a special administration regime. This would allow the government to take control of the company without actually nationalizing it. The government would then be able to restructure Thames Water's finances and put it on a more sustainable footing.

Another option is for the government to provide Thames Water with a financial bailout. This would allow the company to pay off its debts and continue to operate as a private company.

The government is still considering its options, and it is not yet clear what it will do to save Thames Water. However, ministers believe that the company can be saved without resorting to nationalisation.

In a statement, the Department for Business, Energy and Industrial Strategy said that it is "committed to working with Thames Water to ensure that it can continue to deliver essential services to customers." The statement added that the government is "confident that Thames Water can avoid falling into public ownership."

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