Thames Water Debate
Full Debate: Read Full DebateDepartment: Department for Environment, Food and Rural Affairs
Charlie Maynard
Main Page: Charlie Maynard (Liberal Democrat - Witney)Department Debates - View all Charlie Maynard's debates with the Department for Environment, Food and Rural Affairs
(1 month, 2 weeks ago)
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Emma Reynolds
As I said in answer to a previous question, through the clean water Bill the Government will seek to ensure that the new water regulator—which will be integrating the functions of Ofwat, the EA, the Drinking Water Inspectorate and Natural England—does not allow companies to get into the sorts of unmanageable levels of debt that we have seen.
Charlie Maynard (Witney) (LD)
It is clear that the creditors’ consortium has material influence over Thames Water, as it is funding the company and bilaterally negotiating with the Government. Material influence means that the consortium meets the defined criteria of being an ultimate controller. Will the Secretary of State finally acknowledge that fact and work with Ofwat to enforce it?
Emma Reynolds
We are working closely with Ofwat, which has been talking to the consortium of investors for two years. Through my officials, the Government have been in discussions with the consortium alongside Ofwat since November. I thank all the officials who have been involved in those discussions. We need to find a way forward that puts customers and the environment at its heart.