Nationalise Thames Water and block private rescue deal, MPs tell Burnham

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4 hours ago

MPs have urged the government to nationalise Thames Water Andy Burnham and his government are facing increasing pressure to take control of Thames Water after a group of MPs warned a rescue deal led ...

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Burnham","media":"cityam","content":"<div>\n<p>MPs have urged the government to nationalise Thames Water Andy Burnham and his government are facing increasing pressure to take control of Thames Water after a group of MPs warned a rescue deal led ...</p>\n\n<a href=\"https://www.cityam.com/nationalise-thames-water-and-block-private-rescue-deal-mps-tell-burnham/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nationalise Thames Water and block private rescue deal, MPs tell Burnham</title>\n<style 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group of MPs warned a rescue deal led ...</p>\n\n<a href=\"https://www.cityam.com/nationalise-thames-water-and-block-private-rescue-deal-mps-tell-burnham/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EFRA","symbol_name":"ISHARES ENVIRONMENTAL INFRASTRUCTURE AND INDUSTRIALS ETF","start_time":0,"source_url":"https://www.cityam.com/nationalise-thames-water-and-block-private-rescue-deal-mps-tell-burnham/","article_id":"2668594168","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/07/Thames-Water.jpg?w=286&h=161&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/nationalise-thames-water-and-block-private-rescue-deal-mps-tell-burnham/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2668594168","pubTimestamp":1789717778,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"MPs have urged the government to nationalise Thames Water Andy Burnham and his government are facing increasing pressure to take control of Thames Water after a group of MPs warned a rescue deal led by its creditors should be rejected.A group of the stricken utility’s lenders, known as London & Valley Water, is vying to seize control of the company in a 10bn rescue deal but MPs have urged the government to step in before this happens.The Environment, Food and Rural Affairs  committee said the plans do not have “the interest of the public, the company or the environment at heart”, and bidders instead care more about extracting “immediate value”.Alistair Carmichael, chair of the committee, said: “Thames Water’s 16m customers have largely lost faith.“We believe Thames Water can be turned around, but not by giving the keys back to the people who have been joy riding in the family car.”","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"EFRA":"ISHARES ENVIRONMENTAL INFRASTRUCTURE AND INDUSTRIALS ETF"},"translate_title":"国会议员告诉伯纳姆，将泰晤士河水务国有化并阻止私人救援协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EFRA":1},"content_text":"MPs have urged the government to nationalise Thames Water Andy Burnham and his government are facing increasing pressure to take control of Thames Water after a group of MPs warned a rescue deal led by its creditors should be rejected.A group of the stricken utility’s lenders, known as London & Valley Water, is vying to seize control of the company in a £10bn rescue deal but MPs have urged the government to step in before this happens.The Environment, Food and Rural Affairs (EFRA) committee said the plans do not have “the interest of the public, the company or the environment at heart”, and bidders instead care more about extracting “immediate value”.\n\nAlistair Carmichael, chair of the committee, said: “Thames Water’s 16m customers have largely lost faith.“We believe Thames Water can be turned around, but not by giving the keys back to the people who have been joy riding in the family car.”\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNationalisation pushThe committee instead called on the government to push ahead with a special administration regime, a form of nationalisation which would see officials and Ofwat, the water regulator, appoint an administrator to manage the business before it collapses into insolvency.\n\nMPs urged the government to bring in emergency legislation to push through the administration in order to “draw a line under this debacle and restore stability in the sector”.“The chaos of another Thames Water-style saga must not be repeated, and steps must be taken to stop the ‘doom loop’ that besets some companies, where fines for failure compound their inability to improve and lead to increased customer bills,” said Carmichael.Crushing debt pileThames Water has been struggling under a debt pile of more than £20bn and has admitted that it faces running out of capital by the end of the year.\n\nBut creditors, including Apollo and Elliott Asset Management, had their initial rescue plan be rejected by former environment secretary Emma Reynolds in June, who argued it did not go far enough to protect both customers and the environment.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}