If Thames Water collapses in the weeks ahead, there is only one smart, long-term response: public ownership
• Adam Almeida is a senior data analyst at the thinktank Common Wealth
The question mark over the future of Britain’s largest water supplier, Thames Water, has put its 16 million customers across London and south-east England – myself included – in an uncertain position. While water will still keep coming out of our taps, the price of these financial woes will probably be borne by customers and taxpayers. Meanwhile, Thames Water’s shareholders have spent the last three decades benefiting from the company’s massive financial gains. If ever we needed an example of the risks of selling essential infrastructure to investment firms, this is it.
Auditors warned in late 2023 that the debt-laden company could run out of money by April if shareholders did not inject it with much-needed cash. Now investors are saying they won’t provide Thames Water with £500m of emergency funding, leading to speculation that the company will be temporarily renationalised.
Adam Almeida is a senior data analyst at the thinktank Common Wealth
