Thames Water refinancing scam. Pimco books 17% instant profit on Thames Water emergency loan. Company already has £19.5bn debt, another £3bn added, customer bills will rocket. OFWAT doesn't protect people. archive.ph/9rIel - ThreadSky

premnsikka.bsky.social • 84 days ago

Thames Water refinancing scam.

Pimco books 17% instant profit on Thames Water emergency loan.

Company already has £19.5bn debt, another £3bn added, customer bills will rocket.

OFWAT doesn't protect people.
https://archive.ph/9rIel

Comments

alistairblantyre.bsky.social•84 days ago

🥴

ferrickbrick.bsky.social•83 days ago

The government doesn’t protect customers. What happened to Labour? How have they become the people the party started out to oppose? George Orwell would easily recognise their leaders.

4017xan.bsky.social•84 days ago

Judge thought Thames could have found better terms. I suppose it’s not his job to direct Thames to get a good loan. Would that have been Ofwat’s job? The Government’s?

For Thames’s customers seems to be a case of tails you lose and heads you definitely don’t win! We’re money donors to vampires.

tomshakespeare.bsky.social•84 days ago

No wonder my water bill is so massive, having gone up by 40%

labourrightwatch.bsky.social•84 days ago

It's just sickening. The Lobby, sorry, Labour Party have it in their power to make big changes and sweep away the corrupt private water system. But they are part of that appalling system.
#LabourLobbyists #ThamesWater #privatisation

https://labourrightwatch.wordpress.com/2025/03/11/labour-mp-jade-botterill-lobbyist-for-portland-and-the-private-water-industry/

hugorelly.bsky.social•84 days ago

Ofwat protects the private water companies!
#WeOwnIt

cps10001.bsky.social•84 days ago

The regulators regulate the customers not the companies.

The regulators should be reformed so that customers are protected not exploited.

freespirit80.bsky.social•82 days ago

Companies with unsustainable debt should not be paying generous dividends. They're now calling for lower fines due to the economic impact of the fines.

anthonyf272.bsky.social•84 days ago

Nor does this Labour government. My water bill has gone up 27% and that is less than other parts of the country. Labour is a big disappointment.

kidner.bsky.social•84 days ago

Here is something I wrote in an earlier post. We allow this to happen because some shareholder or CEO will get annoyed at their lack of dividends or bonus while they drive a company and crucial infrastructure into the ground thus affecting thousands of households. Infra under TW is poor at best.

brucehenderson.bsky.social•84 days ago

We should remember that if Thames Water had not been sold off there would not be this debt and the quality of what they do would be much higher.

Can anyone else see the problem here?