Thames Water may avoid paying a £104m fine for historic sewage spills as the regulator Ofwat is leaving the door open to negotiation with the firm, i understands.
Ofwat has handed out fines totalling £168m to three English water companies as part of its ongoing investigation into persistent sewage dumping and environmental pollution.
Thames Water has been handed out the largest fine (£104m), followed by Yorkshire Water (£47m) and Northumbrian Water (£17m).
I mean, they’re pretty much about to go under - do they even have the £104m to pay?
Does that matter? If you’ve only got £100 to your name and you break the law, the courts don’t normally give a toss. You still have to pay lawyer fees and fines even if it means you go into debt.
Why should a for-profit company be treated any differently?
It might even be the catalyst to bring them back into national ownership and be rid of the root problem that made them break the law in the first place.
Well sure, but then is the British government on the hook for the debt that the investors are going to be calling in?
No.