About 90% of the ownership of England’s nine main water companies lies in overseas investors’ hands, with many hailing from tax havens or nations known for human rights abuses 🔴 Exclusive from DavidParsley50
in England, three are wholly or partially owned by China, including the nation’s largest supplier, Thames Water.
Between them, Gateway HK and Wharfedale Hong Kong owner 53.7 per cent of Yorkshire Water, while a further 33.6 per cent is owned by Singapore’s sovereign wealth fund GIC. In October 2022, Thames Water was among 11 water companies fined for missing targets and told to give customers millions off their bills.At the same time, Northumbrian Water was ordered to pay £20.3m back to customers after missing targets in areas such as water supply interruptions,, where sewage or foul water floods up through toilets sinks or showers inside a building.
New York-based BlackRock, the world’s largest investment manager, is also active in the English water industry, with stakes in Severn Trent and United Utilities.
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