Tag Archives: Thames Water
Thames Water – a punchy and pun-free assessment for its pensioners.
An annoying feature of almost every report on Thames Water is the intentional puns on “liquidity” and many derivatives of the “fluidity” of the situation. Actually – these jokes are both tiresome and annoying so I’m going to try … Continue reading
Can’t pensions clean our water and clear our waterways?
Water is everywhere, as I write the Thames is flowing fast down to Romney Weir and beyond. Yesterday as we walked to Arbor Park, we passed the terminus of the Slough extension of the Grand Union Canal, the water in … Continue reading
Posted in pensions
Tagged Canal and River Trust, Chris Weston, Edi Truell, Pensions, Richard Parry, Thames Water
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Money USS could lose – lessons it must learn
While USS has written down £600m from the value of its investment in Thames Water, we should not be over-worried about the future of USS the pension fund or the pensions it pays to its members. These things happen and … Continue reading
Thames Water: What Could Investors Have Known Beforehand?
Published on the day the FT broke the story that USS had written down £600m of its investment in Thames Water, EDHEC point to what went wrong and how it could have been avoided by better analysis of available data. … Continue reading
USS comes clean about its Thames Water holdings.
Interim Co-CEOs, Cathryn Ross and Alastair Cochran told the market in September “Turning around Thames will take time. We simply cannot do everything that our customers and stakeholders wish to see at a pace and for a price that … Continue reading
Thames Water – spinning out of control – Con Keating on its 2022 accounts
Thames Water published its 2022/23 reports today. You can access them here. These are some initial thoughts, from a first reading of the annual report, published this morning. The co-CEO of Thames Water was interviewed on this morning’s … Continue reading
Thames Water: Thin Capitalisation and the Credit Risk of Indexed Linked Corporate Debt
GUEST BLOG FROM WARWICK LIGHTFOOT Thames Water’s challenges reflect over use of debt and leverage, the retreat from public markets to private equity and the huge credit risk of indexed linked debt in the private sector. In a paper prepared … Continue reading
Thames Water and the peril of private markets.
Not all utilities are in private hands , not all borrow more than they are worth and not all are facing the existential problem of Thames Water. It’s an uncomfortable reality for Government, in a week when the Chancellor will … Continue reading
The fate of Thames Water is in the pension funds’ hands.
As this collection of headlines shows, the FT places the importance of Thames Water’s future at the top of its weekend agenda. The article, which I reported on yesterday, makes it clear that USS – the university pension scheme, is … Continue reading
USS backs Thames Water’s turnaround plan – did they have a choice?
Jo Cumbo of the FT has a scoop. One of the largest investors in Thames Water has given its support for the utility as other industry figures sought to stave off any possible nationalisation of the sector. The £90bn … Continue reading