Urgent action to prevent yet further damage to the Evenlode

Fri 5 Sep, 22:25

I definitely agree we should be writing letters about this. Thanks for bringing it to our attention Martin. They can't be allowed to loosen pollution controls as they're already terrible! Our representatives in Government need to know we all care about this!

Thu 4 Sep, 16:55 (last edited on Fri 5 Sep, 09:29)

Hi Saskia

In my first post in this thread, I've suggested writing a letter to our MP asking for a Parliamentary Written Question about this. We need to make sure Thames Water aren't allowed to loosen pollution controls and put even more raw sewage into the river. This is quite urgent I think, because of the new proposal from the bond holders, who have specifically asked for weakening of pollution controls (according to the FT). 

I agree that nationalisation would be the best outcome. But given the current government don't agree, we should try in the short-term to make sure the public (and nature) doesn't get screwed again while the financiers make out like bandits. 

Thu 4 Sep, 16:39

I could not agree more. In the mean time is there anything we locals can do?

Wed 3 Sep, 21:54

Nationalisation is the only sensible answer to the whole sorry mess.

Wed 3 Sep, 21:26 (last edited on Wed 3 Sep, 21:27)

Relevant passage from the FT article:

The creditors then submitted a plan to inject £3bn of equity into Thames Water, which would be increased by hundreds of millions of pounds under the new proposal. The revised offer on new funding and additional debt haircuts has not yet been finalised. The full proposal, including financial details, is expected to be put to Ofwat as early as next week and would require ratification in the courts this autumn.

The bondholder group, which stands to make larger losses if the privatised utility is taken over by the government, had faced pushback from officials due to earlier demands for waivers that would exempt the company from key environmental laws and hefty fines. People close to the creditors insist they are not seeking blanket releases on fines, but will ask for more “realistic” targets on sewage pollution and other issues in their full proposal that is expected next week. 

https://www.ft.com/content/e84ae3d7-665d-4473-a70a-3d06a4c41f78

Wed 3 Sep, 17:05 (last edited on Wed 3 Sep, 21:26)

A group of hedge funds has proposed a deal to provide an injection of cash for Thames Water, as reported today by the FT. Apparently the deal incorporates exemption from certain pollution targets as a precondition for the cash. This is precisely the opposite of what is needed to save…

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