If Thames Water collapses in the weeks ahead, there is only one smart, long-term response: public ownership, says data analyst Adam Almeida
, has put its 16 million customers across London and south-east England – myself included – in an uncertain position. While water will still keep coming out of our taps, the price of these financial woes will probably be borne by customers and taxpayers. Meanwhile, Thames Water’s shareholders have spent the last three decades benefiting from the company’s massive financial gains. If ever we needed an example of the risks of selling essential infrastructure to investment firms, this is it.
This is a bizarre arrangement, in which I pay escalating prices for drinking water so that my grandmother in Canada and thousands of other pensioners can live out their golden years. Yet this model of ownership is becoming increasingly common as Britain’s essential infrastructure is bought by institutional investors with portfolios worth hundreds of billions of dollars.
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