A. The 1991 Act makes it even clearer than the earlier legislation that Parliament did not intend the fairness of priorities to be decided by a judge. The only remedy of the injured party is to complain to the Minister [of Health, under the 1936 Act enforcement procedure].". If we look again at the ownership structure we see that it is, in effect, divided in two: the ‘ring fenced’ entity and object of the regulator’s gaze, and the larger part of the wedding cake structure which is outside the ring-fence. Indeed, Thames Water has been paying out in dividends far more than it has actually earned from its cash flows. But the courts consistently held that failure to construct new sewers was not such a nuisance. The Court of Appeal decided that they should no longer be followed. Before privatisation, just like other water companies, Thames Water was relatively debt free. Cost for installation of fountains higher than forecast. Final-Script-Narration-Privatisation-of-a-Water-Company.pdf. They rejected an argument that water companies were subject to human rights obligations. Water companies have pledged to spend more than £50 billion on improving services in their business plans to Ofwat for the years 2020-25. Mayoral approval is sought for expenditure of £674,000 to support the drinking water fountains programme as part of the total £2.5m contribution from the Mayor. Thank you for rating. 100-150 is an estimate at this stage. Is your feedback about... MD2690 Confirmation of variation order to postpone the introduction of LEZ 2020 and make other minor changes to LEZ & ULEZ, MD2661 London Cleaner Vehicle Support and Scrappage Delegation and Direction, MD2680 Communities and Social Policy Programme Budget 2020-21. It allows investments to be prioritised to benefit more customers. Fountains are installed on time and on budget. The primary goal of the project is to enhance Thames Water’s processes involving its asset data, and to improve water efficiency and effluent quality. 58. increase competition and widen public choice of water supplier; increase efficiency, thus leading to benefits for consumers; and to increase private investment in Britain’s aging water supply infrastructure, and thus reduce state expenditure. Nevertheless, whatever the difficulties, the court in such cases is performing its usual function of deciding what is reasonable as between the two parties to the action. A cultural shift so that carrying a reusable bottle, and using fountains and other refill points, becomes a behavioural norm. After a career break, how do I get into the environmental sector? He is a public authority within the meaning of the 1998 Act and has a duty to act in accordance with Convention rights. In that same year, the financialisation of Thames Water began.... Financialisation, as practiced by a corporation, describes a process in which making profits from financial instruments,such as the selling of bonds,grows more influential as a way of making profit than does trading in real products. 45. 66. And above all this, are the owners: the investment consortium of shareholders. With rising energy prices and an increase in the volatility of the market, it is advantageous for any utility to be more flexible with its energy consumption and management, so that it may reduce operational expenditure as well as prolonging asset life cycles. 57. The London utility was … ([2002] QB 929, 964, para 102), 69. Marcic v Thames Water plc [2003] UKHL 66 is a UK enterprise law and English tort law case, concerning water in the UK. Privatisation, mediated through the practices of financialisation, has witnessed the extraction of value from Thames Water in the form of dividend payments, management fees and interest payments, rather than enabling the creation of value for investment. Together these companies enabled the financing practices described above. The Goldman case [1967] 1 AC 645 and the Leakey case [1980] QB 485 were said to have made a "significant extension" to the law. During PR19 we provided an example of the approach applied to growth enhancement expenditure. Raising (or leveraging) debt through securitisation enabled the company´s projected revenue streams, in the form of future water bills paid by Thames Water’s customers, to be packaged together, and for bonds to be issued against these revenue streams and then sold to investors. Until the decision of the Court of Appeal in this case, there was a line of authority which laid down that the failure of a sewage authority to construct new sewers did not constitute an actionable nuisance. 65. There is no reason why Parliament should not entrust such decisions to an independent regulator such as the Director. If the Sedleigh-Denfield case [1940] AC 880 lays down a general principle that an owner of land has a duty to take reasonable steps to prevent a nuisance arising from a known source of hazard, even though he did not himself create it, why should that not require him to construct new sewers if the court thinks it would have been reasonable to do so? Should the Mayor be minded to make the decisions sought officers must ensure that: - a funding agreement is entered into and executed by the GLA and Thames Water before any commitment to the provision of the funding is made; - any works, services or supplies required by the GLA are procured in accordance with the GLA’s Contracts and Funding Code in liaison with TfL Commercial who will determine the procurement strategy to be adopted and contracts are entered into and executed with the successful bidder(s) before the commencement of the same; and. 55. - the relevant HR/staffing approvals for GLA staff are obtained in accordance with all GLA protocols applicable. (b) consider how the proposals will promote the improvement of health of persons, health inequalities between persons and to contribute towards the achievement of sustainable development in the United Kingdom; and

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