The article questions Andy Burnham's calls for "stronger public control" over water and energy sectors, arguing his proposals lack specific detail beyond nationalisation. It highlights existing state interventions in energy and the proposed clean water bill, urging Burnham to clarify his stance.
Hedge fund Elliott Investment Management, led by billionaire Donald Trump donor Paul Singer, is in talks to rescue UK water company Thames Water. Critics fear the deal could allow pollution and prioritize profit over infrastructure, while the government seeks to avoid a market meltdown.
A rescue deal for Thames Water is at risk due to uncertainty over the UK's next Prime Minister. Creditors led by Elliott Management are negotiating with ministers, but potential successor Andy Burnham's stance on public ownership could derail the agreement.
Thames Water creditors warn temporary nationalisation would delay turnaround. Labour's Andy Burnham calls for public control of utilities, sparking investor concerns and a fall in water company shares.
United Utilities share price jumped 11% after the water company announced an £800m share placing with Future Fund and Atlas as cornerstone investors. Ofwat's regulatory settlement a year ago has proven more generous than initially thought, particularly for companies not incurring heavy pollution fines. UU now targets 10-11% return on equity and seeks to spend an additional £2.5bn on infrastructure, potentially adding £10 to household bills. Severn Trent rose 7% in sympathy, with both companies at all-time highs.
