Thames Water - comment

Parties are still positioning themselves. The treasury insists that the utility pay its fines and fails to provide assurances beyond AMP8. Ofwat wants investment, and the only pragmatic capitalists in the room can’t find the returns to justify fresh equity under such proposals. Meanwhile, the company is rejecting suitors who it already knows can’t square the circle. The parties are united in their rejection of nationalisation, but so far, the saga continues.