Water Companies: Nationalisation
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, whether his Department has considered public ownership as a potential outcome under the special administration regime in circumstances where a regulated water company is found to be in material breach of its statutory obligations.
Answered by Emma Hardy
The purposes of a Special Administration Regime (SAR) are set out in legislation. Government stands ready to intervene to ensure the continued provision of vital public services – through the application for a SAR – should this be required. It is for the special administrator to manage the affairs of the company so that the company continues to carry out its statutory duties pending rescue (via e.g. debt restructuring) or transfer (via a sale) to new owners. A SAR is not a form of renationalisation. |
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