Reported 9 months ago
Australian bank Macquarie Group made significant profits from its ownership of Thames Water by selling off a 48% stake, receiving dividends, and interest payments. However, the utility's customers now face a potential 56% increase in bills by 2030 due to high debt levels and inadequate infrastructure. Macquarie's financial engineering, leveraging industry rules, and taking advantage of flawed pricing systems have left Thames Water struggling financially, raising concerns of potential insolvency and temporary state control. The crisis highlights the controversial financial practices in the UK water industry and the challenges faced by the 16 million Thames Water users.
Source: YAHOO