Railtrack

Renationalising Thames Water would be a gamble – but there is another way to help clean up the industry

Retrieved on: 
Monday, July 3, 2023

But since 1989, the industry has failed to invest sufficiently in replacing antiquated pipes and sewage treatment systems.

Key Points: 
  • But since 1989, the industry has failed to invest sufficiently in replacing antiquated pipes and sewage treatment systems.
  • Meanwhile, dividend payments, funded by water companies loading up on corporate debt, have soared.
  • The largest of those companies, Thames Water, has debts of almost £14 billion – roughly 80% of the value of the assets of the business.
  • Rising inflation and interest rates mean this debt is increasingly expensive to service, let alone reduce.
  • But existing water companies are unlikely to be considered suitable buyers on competition grounds (and many already face similar problems as Thames Water).

Not for profit

    • Welsh Water has a unique corporate structure, with no shareholders and is run solely for the benefit of its customers.
    • While not perfect, its performance in recent years compares favourably with that of the other privatised water companies.
    • Welsh Water’s decisions are made not in the interest of profit-seeking shareholders but in the interests of broader society.
    • Any profits made are either reinvested or returned to its 3 million customers in the form of cheaper services.

Directorate Change

Retrieved on: 
Sunday, January 22, 2023

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • Sue is currently Senior Independent Director at Imperial Brands PLC and a Non-Executive Director of Mondi plc and Britvic plc.
  • Prior to SABMiller she served as Director of Corporate Affairs for Railtrack plc and Scottish Power plc.
  • I look forward to her joining the Board.”
    For further details please contact easyJet plc:

Sir Adrian Montague to Join Porterbrook as Chairman

Retrieved on: 
Tuesday, June 30, 2020

LONDON, June 30, 2020 /PRNewswire/ -- Porterbrook today confirmed that Sir Adrian Montague will be joining the rail asset management company as Chairman of the Board on 1 July, 2020.

Key Points: 
  • LONDON, June 30, 2020 /PRNewswire/ -- Porterbrook today confirmed that Sir Adrian Montague will be joining the rail asset management company as Chairman of the Board on 1 July, 2020.
  • Sir Adrian recently retired as Chairman of Aviva PLC and is currently Chairman of Cadent Gas, Manchester Airports Group, and TheCityUK Leadership Council.
  • Sir Adrian brings over four decades of experience across transport, infrastructure, and financial services, having previously served as Deputy Chairman of Railtrack and Chairman of Cross London Rail Links, the precursor to Crossrail.
  • Mary Grant, CEO of Porterbrook said: "I am delighted that Sir Adrian Montague is joining Porterbrook.