![]() “The day job of maintaining the assets… and achieving required environmental outcomes has not been done very well, and in some cases very badly,” Helm told CNN, adding that “widespread financial engineering” to boost dividend payouts to shareholders had left the industry in a precarious position. ![]() The UK water sector is “clearly in a state of multiple crises,” said Dieter Helm, a professor of economic policy at the University of Oxford. The problems are most acute at Thames Water, London’s utility, but the wider industry across England and Wales is struggling to deliver a reliable service under the weight of huge debts built up since it was sold to private investors over 30 years ago. Financial trouble at the company that supplies more than a fifth of the UK population with water has raised alarm about the dire state of an industry that delivers a resource people can’t live without.
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