Wed 01 Jul 2020.
Thames Water is owned by a series of investment companies, many of them sovereign wealth funds or pension funds owned and run by foreign governments. Thames Water's 2017 annual report in fact shows that the company is over 50% owned by foreign states through pension funds and sovereign wealth funds.
UK's biggest water provider, supplying water and sewerage services to 15 million people in London and the Thames Valley and serve over one quarter of the UK's population. Thames Water has been criticised for financialising one of Britain's key utilities, prioritising shareholder dividends and operating with a high level of debt. A Financial Times investigation revealed that Thames Water paid no corporation tax between 2011-15.
They also lose 677.2 million litres of water per day through old and leaky pipes - more than any other water company!
Shareholders benefit from this scandal to the tune of £392 million in profits between 2013-2017.
In 2018, Thames Water's highest paid director received £851,000 in salary, bonuses and other perks.