Displaying items by tag: Thames Water

The Court of Appeal has dismissed challenges against a £3 billion rescue plan for Thames Water, allowing the utility to continue operating despite severe financial difficulties. The High Court had previously sanctioned the deal, which was designed to prevent the company from running out of money. However, a group of secondary creditors and Thames Water’s parent company appealed, arguing that the plan unfairly benefited senior lenders. MP Charlie Maynard also called for the company to be placed under special administration, to protect customers. The appeal was rejected, with judges ruling that the approved restructuring should stand. Thames Water serves 16 million customers and manages over 88,000 miles of water infrastructure. The deal is an interim measure, with a long-term financial restructuring expected later this year.

Investment into expanding sewage treatment works by Thames Water falls far short of what is needed to stop raw sewage discharges into rivers, according to a campaign group who analysed 106 treatment works from the Chilterns into the Cotswolds. A treatment works is where wastewater is stored and treated, before being released to the environment. The research suggested three-quarters of the works examined did not have enough capacity to cope with the amount of wastewater from the population, and therefore increases the likelihood of raw sewage being released to the environment. Investment plans for 2020 to 2025 by Thames Water involved only 15 of 83 works in the area which needed their capacity increased now, or in two years. The expansion of a sixteenth treatment works in the area has been cancelled. Pray for an end to appalling stewardship of assets that were privatised a third of a century ago.