Burnham shelves Thames Water administration plans over costs

cityam08-25 14:33

Andy Burnham has pledged greater public control of utilities (Yui Mok/PA Wire) Andy Burnham has paused plans to take public control of Thames Water over fears that it could saddle the taxpayer with a ...

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href=https://www.cityam.com/burnham-shelves-thames-water-administration-plans-over-costs/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Andy Burnham has pledged greater public control of utilities (Yui Mok/PA Wire) Andy Burnham has paused plans to take public control of Thames Water over fears that it could saddle the taxpayer with a ...</p>\n\n<a href=\"https://www.cityam.com/burnham-shelves-thames-water-administration-plans-over-costs/\">Source 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pounds.The Prime Minister had been considering putting the struggling utility into a special administration regime , which would allow the government to take partial control of the company until a buyer was found.Burnham had made greater public control of utilities one of the cornerstones of his pitch for power, and Thames Water was expected to be one of his first opportunities to do this.But government officials have raised concerns about the cost to taxpayers of a SAR regime, The Times reported, which Thames Water has said could force the government to shell out more than 2bn.The cost of administration could have spiralled even further, with a 2024 report by advisory firm Teneo putting a 4.1bn price tag on an 18-month SAR for Thames Water.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4135":"资产管理与托管银行","SAR":"Saratoga Investment 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administration could have spiralled even further, with a 2024 report by advisory firm Teneo putting a £4.1bn price tag on an 18-month SAR for Thames Water.\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\nMinisters have backed down from any immediate move over fears around the costs and potential legal challenges to the plans and are instead exploring whether there is a “viable option” for putting the company into administration, The Times reported.\n\nThames Water faces £20bn debt pileThis work is expected to take several months, making it increasingly unlikely that Thames Water would be put into any kind of administration by the 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