Thames Water: Bids

Baroness Jones of Moulsecoomb Excerpts

Monday 28th April 2025 Lords Chamber

[Baroness Hayman of Ullock (Lab)]

As I am sure the noble Baroness is aware, a special administration order is the mechanism to ensure that the company continues to operate and customers continue to receive their water and wastewater services. However, the bar for entering special administration is understandably high; the law states that it can be initiated only if the company becomes insolvent, can no longer fulfil its statutory duties or seriously breaches an enforcement order, and Thames Water does not fit those criteria, despite all its other problems. All I can say to the noble Baroness is that we are currently monitoring the situation closely.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, 90% of England’s water and sewerage services are owned by foreign investors. Can the Minister explain why the Government are so happy for that to happen but not happy to allow us to buy our own vital resources back? It seems madness to allow our vital infrastructure to be owned by foreign states.

[Baroness Hayman of Ullock (Lab)]

Obviously, water privatisation happened quite a long time ago now, which was when different foreign states came in and invested in our water system. I am sure the noble Baroness is very aware of the work going on through the Cunliffe review at the moment in order to try to get our water companies into a better state. The Government are very keen that we sort out the problem with Thames Water, but that is Ofwat’s and the company’s responsibility at present and we are just watching to ensure that Thames Water does not fail, because we cannot afford to have water companies failing.