U.K., Oct. 16 -- UK Parliament issued the following news:
EFRA Committee Chair Alistair Carmichael MP today tells the government to act decisively on the future of Thames Water, amid reports that its creditors may issue new debt that would allow the company to continue operating into autumn 2027.
It comes after the Committee published a report in September urging the government to either put the company into Special Administration or to consider emergency legislation that takes control of its financial affairs before more appropriate owners can be found.
Chair comment
Mr Carmichael said:
“The government has talked a lot about taking control of Thames Water. Customers will be incredulous if the company’s creditors are now able to pile on another multi-billion pound debt injection while the government does nothing. Any added debt on the company’s books also makes Thames an even more painful problem to solve.
“The EFRA Committee does not believe that Thames’ creditors have the company’s, the public’s or the environment’s best interests at heart. As we said in our recent report, the government needs to act decisively to draw a line under this sorry saga.”
Further information
Inquiry: Reforming the water sector
About Parliament: Select committees
Visiting Parliament: Watch committees
Image: House of Commons/Roger Harris
Disclaimer: Curated by HT Syndication.
