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LONDON, July 10 (Reuters) - Thames Water has become the poster child for a British water industry under fire for its poor environmental record and financial mismanagement. After a period as a listed company, Thames Water was acquired by German utility RWE (RWEG.DE) in 2001. Thames Water said on Monday they would provide 750 million pounds, and added it had strong liquidity of 4.4 billion pounds. FINANCESNearly 60% of Thames Water's debt is index-linked, according to ratings agency Standard & Poor's, saddling it with higher repayments as inflation soars. Thames Water was fined 3.3 million pounds last week, while Southern Water was fined 90 million pounds in 2021.

Persons: Margaret Thatcher's, Australia's Macquarie, Abu, Hermes, Ofwat, Sarah Young, Chiara Elisei, Emelia Sithole Organizations: Margaret Thatcher's Conservative, Water, Thames, Ontario, BT, China Investment Corp, Thames Water, Macquarie, Yorkshire Water, Severn Trent, United Utilities, The Times, Environment Agency, Southern Water, Thomson Locations: Britain, Here's, Abu Dhabi, Thames, Southern Water, United, England

☆ UK’s leaky water model faces a growing storm
▼ + stars: | 2023-07-05 | by ( Neil Unmack | ) www.reuters.com time to read: +8 min

The fallout raises two big questions: whether the regulatory regime works, and whether Britain’s water companies should still be privately owned. Average UK water bills are 448 pounds in the current year, versus 409 pounds in Scotland. One option would be to squeeze water companies – cutting allowed prices, and imposing bigger penalties on those that allow leaks. For the sector as a whole, Ofwat assumes equity comprises 45% of water companies’ 94 billion pound RCV, or 42 billion pounds. Reuters Graphics Reuters GraphicsFollow @Unmack1 on TwitterCONTEXT NEWSThames Water investors have become more “concerned” about the company’s turnaround, the chief executive of UK water regulator Ofwat David Black told a UK parliament committee on July 4.

Persons: Macquarie’s, Severn, Ofwat, Jefferies, David Black, Iain Coucher, “, Black, George Hay, Oliver Taslic Organizations: Reuters, Conservative, Thames, Ofwat, Reuters Graphics Regulators, Yorkshire Water, United Utilities, Scottish, Dwr Cymru, Barclays, Reuters Graphics Reuters, Thames Water, Water, Sky News, Thomson Locations: Severn Trent, RCV, Water, Wales, Scotland, Germany, United States, Italy, Ireland, Britain

☆ China accuses U.S. of distorting facts after aircraft clash
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Jan 1 (Reuters) - A U.S. military plane involved in a confrontation with Chinese aircraft in disputed southern waters last week had violated international law and put the safety of Chinese pilots at risk, a defence ministry spokesman said. But Tian Junli, spokesman for China's Southern Theatre Command, said in a statement late on Saturday that the United States had misled the public about the incident near the disputed Paracel Islands in the South China Sea. He said the U.S. plane violated international law, disregarded repeated warnings by China and made dangerous approaches that threatened the safety of China's aircraft. "The United States deliberately misleads public opinion... in an attempt to confuse the international audience," Tian said. China claims almost the entire South China Sea as its sovereign territory, but parts of it are contested by Vietnam, the Philippines, Malaysia, Taiwan and Brunei.

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