Took some a few hours ago.
A bit risky maybe but let's see and I am happy to build out a position.
Good luck all 👍🏻 |
Direct link :- |
Will get in again here at 1048 which is just under what we have seen already today.
A bit risky short term as I think today's drop is connected to the Panorama show that's on BBC1 tonight!!
Good luck all 👍🏻 |
Yeah I sold at 1072 which was too early too but a profit is a profit.
I couldn't see it pushing towards 1100 before a pause / dip but it looks like it may well break it today.
Good luck all 👍🏻 |
Well must confess I am surprised by the share price strength here; can't see the uncertainties are any less .I sold too early but am glad not to worry about the vulnerability. And the yield compared to a savings account is no longer attractive. |
Closed out this morning. No further positions. |
United Utilities has been fined £800,000 after illegally abstracting 22bn litres of water in Lancashire, causing damage to an important aquifer that will take years to recover. The illegal removal of water from the Fylde aquifer, which happened during a period of dry weather in 2018, is likely to have negatively affected river flows. |
"Six water companies could face paying out millions of pounds over claims they underreported discharge into rivers and the sea and overcharged their customers as "privatised monopolies"." |
Buyers out there. Short term garbage news. |
Maybe you should look at your own agenda…
In 2022, a House of Commons Committee report on the state of UK rivers concluded that no river in England was free from chemical contamination. Only 14% of UK rivers had a “good” ecological status.
Between 1991 and 2019, the percentage of Europe’s bathing waters with “excellentR21; water quality increased from 53% to 85%. In several countries, including Austria, Greece and Malta, more than 95% of bathing sites are now classified as excellent. |
This is certainly not for the faint hearted atm that's for sure. Who'd have thought you would say that with a water share! The main stream media certainly has it in for this sector. Fully deserved for a few of companies in the sector but all seem to be being tarred with the same brush. And yet UK waters are up there with the leading countries in Europe, but that doesn't fit their narrative. |
I had a buy order hit this morning and my position here is small so I will ride it out. That said I won't be adding until the picture becomes much clearer.
Would also take a profit if we can get back above 1050 too this summer to avoid the cloud hanging over the sector.
Good luck all 👍🏻 |
Obviously a big issue in the sector, it made me sell my last holding here for less than I hoped this am . I may be wrong and good luck to holders, but I think the best days are behind us here. |
 Whitehall draws up emergency plan to nationalise Thames Water
Company scrambles to secure £1bn from shareholders
Thames Water – owned by a consortium of pension funds and sovereign wealth funds – has come under pressure in recent years over its poor performance in tackling leaks and sewage contamination,
An emergency nationalisation of Thames Water is being considered by ministers as the company scrambles to secure £1bn from shareholders.
The Government is drawing up contingency plans for the collapse of the utility company it battles to pay down a £14bn debt pile.
Ministers are in talks about the possibility of temporarily bringing the utility company back into public hands under a so-called special administration regime (SAR).
The discussions are understood to be taking place between water regulator Ofwat, the Department for Environment, Food and Rural Affairs (Defra) and the Treasury.
It comes after Thames Water chief executive Sarah Bentley stepped down with immediate effect on Tuesday amid mounting worries over the financial stability of the firm.
Environment minister Rebecca Pow told the Commons that Britain’s water industry is “financially resilient,” adding there is a lot of behind-the-scenes work happening with Thames Water.
She said customers “should rest assured” that their water supplies will be protected.
She said: “The sector as a whole is financially resilient and Ofwat continues to monitor the financial position of all the key water and wastewater companies.”
Asked about Thames Water, she said it was not her place to comment on an individual company’s financial position.
She was responding to an urgent question by shadow environment secretary Jim McMahon, who said: “Just last year, as raw human sewage was being pumped out across the country, £1.4bn was paid out to shareholders.
“And now all that was warned is coming to pass. Leaks are leading to water shortages, sewage dumping pollutes our rivers, our lakes, our seas and the only thing on the up is debt.”
Thames Water’s debts plunged in value on Wednesday as the City increased bets that lenders will not be repaid.
One of the utility company’s bonds – issued by Kemble Finance and due in 2026 – has fallen by 35 pence on the pound.
The 41pc drop to about 50.7p means effectively that investors believe there is only a 50/50 chance that lenders will be repaid.
The company said on Wednesday that it is “continuing to work constructively with its shareholders” as it seeks more funding for its turnaround plan.
In a statement to investors, bosses said water regulator Ofwat is being kept fully informed on the progress of the company’s turnaround and engagement with shareholders.
Sarah Bentley
Thames Water boss Sarah Bentley stepped down with immediate effect on Tuesday CREDIT: Thames Water/PA
It said Thames Water continues to “maintain a strong liquidity position”, saying that as of March this year it had £4.4bn of cash and committed funding.
An Ofwat spokesman said: “We monitor the financial position of all the key water and wastewater companies. We have been in ongoing discussions with Thames Water on the need for a robust and credible plan to turn the business around and transform its performance for customers and the environment. We will continue to focus on protecting customers’ interests.”
Thames Water is the UK’s biggest water supplier and provides water services for 15m people in London and the South East.
The firm is racing to raise £1bn from investors to shore up its finances, with AlixPartners advising on its turnaround plans.
A Government spokesman said: “This is a matter for the company and its shareholders.
“We prepare for a range of scenarios across our regulated industries – including water – as any responsible government would.
“The sector as a whole is financially resilient. Ofwat continues to monitor the financial position of all the key water and wastewater companies.”
Thames Water – owned by a consortium of pension funds and sovereign wealth funds – has come under pressure in recent years over its poor performance in tackling leaks and sewage contamination, while facing criticism for handing out big rewards to top bosses and shareholders.
Ms Bentley, who was appointed in 2020, said in May that she would give up her bonus after the company’s environmental and customer performance suffered.
But even after giving up the bonus, the chief executive managed to double her pay, raking in £1.5m.
On announcing her departure, she said: “The foundations of the turnaround that we have laid position the company for future success to improve service for customers and environmental performance.”
Earlier Britain’s top infrastructure official said it is “probably not unrealistic” that water bills will rise by 40pc to tackle the problem of sewage flowing into rivers and the sea.
Sir John Armitt, chairman of the National Infrastructure Commission, said that it would cost £50bn over the next 25 to 30 years to fix sewage overflows polluting Britain’s waters.
He added that £20bn would be needed to ensure the UK has sufficient water by 2050.
“As a country we have to decide what quality and what level of infrastructure we require. We then have to decide whether we want to pay for it and if we can afford to pay for it. |
United has gross debt of £8.4bn could it also get into trouble?
Government 'prepared for range of scenarios' amid fears of Thames Water collapse
Contingency plans are being drawn up amid growing doubts in Whitehall about the ability of the firm to service its £14bn debt-pile. |
Yeah and I will add further at sub 990 to get a better average and in advance of the next divi too. |
xd today of course.
Yield per hl is 4.56%. |
All UK listed shares Xd days are a Thursday now, except for the one occasion last year when there was an unexpected Thursday Bank Holiday. |
Yes Thursday from memory. Can we get to 1090 ahead of then?
Good luck all 👍🏻 |
Xd 30.3p this week |
I used to trade some of my holding but I would not look to come back in this time even with a substantial drop. I prefer to look at SSE for utility advantages. |
I thought you'd decided this selling then hoping to buy back cheaper was a dead loss?View it as an income stream then you don't have to worry about the share price. Leave the trading to the penny punters, 80% of whom lose the lot. |
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