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Worst Case

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Originally published January 21, 2010
Authors James Patterson
Michael Ledwidge
Preceded by Run for Your Life
Followed by Tick Tock
Literary series Michael Bennett
GenresFiction
Mystery
Thriller
Suspense
Date of Reg.
Date of Upd.
ID2286437
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About Worst Case


Worst Case is the 3rd book in the Michael Bennett series from James Patterson and Michael Ledwidge.

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Thames Water customers will not pay more if firm collapses

Jun 29,2023 3:40 am

By Jemma DempseyBBC News

Customers will not be made to cover the cost if Thames Water goes bust, The Boss of regulator Ofwat has said.

David Black also told The Bbc The Firm had " some time" to raise the funds it needs to fix it finances.

Thames is billions in debt and could, in a Worst Case scenario, be taken over by the government if it cannot turn things around.

Mr Black denied Ofwat had failed to monitor The Firm , but admitted there were " hard lessons to learn".

He added that excessive payouts for chief executives in the water industry had " angered" him.

Thames Water , which supplies a quarter of the UK population, has faced heavy criticism over sewage discharges and leaks and is Under Pressure to improve its services.

But last week it emerged The Firm was struggling to raise The Money it needed to service its huge £14bn debt pile.

It came after chief executive Sarah Bentley stepped down from The Company after just two years in The Job .

With other big water companies also carrying high levels of debt, Ofwat has been accused of failing to properly regulate the industry.

But Mr Black denied this, telling BBC Radio 4 's Today programme: " Companies need to take responsibility for their own financing structures, we're here to protect customers' interests. "

He added that putting The Firm into a " special administration regime" - where it would be temporarily re-nationalised - remained a " backstop option" and " we're still a long way from that".

Asked specifically if customers would have to Pick Up the tab if investment was not forthcoming, he responded: " No. "

Last week Health Minister Neil O'Brien also sought to assuage concerns about the potential impact on customers, but the influential business select committee warned taxpayers could still be hit.

Labour MP Darren Jones told The Bbc last week that if the government was forced to take over the running of Thames Water , " taxpayers will be exposed to The Debt and running costs of a very large company".

Ofwat says it is still waiting to see how Thames Water plans to fix its finances.

But on Tuesday, Mr Black told The Lords ' business committee that he believed The Company needed to raise " substantial" sums to Keep Going .

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Source of news: bbc.com

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