Prime Minister Andy Burnham has sent officials back to the drawing board on Thames Water, asking for bolder options for the struggling utility, including ones previously ruled out as impractical, The Guardian reports.
One idea under discussion would turn roughly £100m of unpaid environmental fines into a government stake in the company, giving ministers a say in how it is run, with any future fines increasing that share. Mr Burnham has said he would nationalise Thames, which recently asked creditors for a further £2.4bn, but doing so could cost billions or end in a long court fight.
A government source called the company a test of whether ministers can tackle medium-term problems. Environment Secretary Angela Eagle is preparing a water bill that would remove a cap on state ownership of water firms and could change the special administration regime.
Source: The Guardian
