Thames Water has appointed industry veteran Sir Adrian Montague as chairman as the troubled utility provider seeks to shore up public and investor confidence.
The former chairman of Anglian Water and insurance giant Aviva, Sir Adrian will replace current chairman Ian Marchant, who announced in April that he would stand down at the end of this month.
His appointment, first reported by The Times, comes just days after chief executive Sarah Bentley stood down without explanation this week, leaving a leadership vacuum at the company and heightening concerns about its viability.
Sir Adrian said: “It is a privilege to join the Board of Thames Water and follow Ian as chairman.
“I very much enjoyed my previous role in the water industry and am pleased to be re-joining the sector at a critical time given the challenges it currently faces.
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“I now look forward to working with the Board and Executive team and Thames Water’s regulators and investors, to focus on the company’s turnaround plan and its future financing needs to ensure it delivers on its responsibilities to serve its customers and communities well and benefit the environment.”
Sir Adrian, 75, has experience tackling the consequences of previous failed privatisations, having been appointed chairman of British Energy following a financial crisis at the nuclear operator, and deputy chairman of Network Rail following the collapse of Railtrack.
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His immediate tasks at Thames Water will be to reassure ministers and Ofwat about its financial position and encourage shareholders to make good on a commitment to provide £1bn in fresh equity capital.
The company said a year ago it planned to raise £1.5bn from shareholders to fund investments in “leakage and river health”, with £500m already committed and another £1bn “subject to certain conditions”.
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Thames Water said this week it is working “constructively” with shareholders, including Canadian and British pension funds and Chinese and Abu Dhabi sovereign wealth vehicles, to secure the investment.
The company says the additional capital will be used to fund an £11bn program of works to address leaks and pollution by 2025, but there are reports that billions more will be required to meet regulatory requirements.
Concern over Thames Water saw shares in three listed water companies fall, with United Utilities down 3% and Severn Trent and Pennin, which serves customers in the south west, both down around 5% in mid-afternoon.
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In a statement Ofwat said: “Overall, the sector is continuing to attract international capital and is especially attractive to long term investors such as pension funds. Indeed, there has been an additional equity injection of around £2bn since 2020, with companies acting to strengthen their financial position.
“Ofwat will continue to keep companies’ financial resilience under close scrutiny and work with companies to ensure they take action to ensure that they have the financial backing to deliver for customers and the environment.”
Israel has shown little respect for international borders since becoming the unrivalled military hegemon of the Middle East. Today that meant an Israeli airstrike on a government building in Damascus.
Israel has moved into parts of the south of the country, built military bases and declared a line of control.
Image: Smoke rises from an Israeli airstrike that hit the Syrian Defence Ministry in Damascus. Pic: AP
On Monday, Syrian tanks heading south to try and restore order following an outbreak of factional fighting were attacked by Israeli warplanes.
“The presence of such vehicles in southern Syria could pose a threat to Israel,” stated the Israel Defence Forces.
In reality, Syria’s ageing tanks pose minimal threat to Israel’s state-of-the art military.
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0:08
Syrian presenter interrupted by Israeli airstrike
The Syrian armour was attacked as it entered the area around Sweida in the Druze heartland of southern Syria following factional fighting there.
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The flare-up reportedly began with clashes between Bedouin and Druze groups that ended in scores killed.
The background to the escalation is complicated.
At least three Druze militia groups are divided in their loyalties to different religious leaders and differ over how they should respond to calls to assimilate into the new post-revolutionary Syria.
Image: Druze from Syria and Israel protest on the Israeli-Syrian border.
Pic: AP
Israel is becoming more and more involved in Syria’s internecine war and says it will remain there indefinitely “to protect our communities and thwart any threat”.
Its critics say Israel is operating a policy of divide and rule in Syria, weakening the fledgling government and creating a buffer zone to protect the border with the Golan Heights – originally Syrian territory that it has occupied and annexed for almost half a century.
Since the fall of the Assad regime, Israel has used airstrikes to destroy of much of Syria’s military capability weakening its ability to impose control on outlying regions. This makes it more not less likely Israel will have a volatile unstable state on its northern border.
Image: Syrian security forces walk along a street in the southern Druze city of Sweida. Pic: Reuters
America and European powers have chosen to normalise relations with the new government in Damascus and lift sanctions.
In contrast Israel has occupied its territory, bombed its military and today hit one of its government buildings in the capital with an airstrike.
Since its crushing military campaigns against Hamas, Hezbollah and Iran, Israel has emerged as the unchallenged military power of the region.
There is however a limit to what blunt force can achieve alone. It requires diplomacy to achieve lasting gains and Israel’s repeated assaults on multiple neighbours combined with its relentless campaign in Gaza are winning it few friends in the region.
Israeli airstrikes have targeted the Syrian military headquarters in Damascus amid renewed clashes in the country.
The gate of the Ministry of Defence in the Syrian capital was targeted by two warning missiles from an Israeli reconnaissance aircraft.
State-owned Elekhbariya TV said the Israeli strike had wounded two civilians, the Reuters news agency reported.
Image: Smoke rises from Syria’s defence ministry building in Damascus. Pic: Reuters
It came as Israeli airstrikes targeted security and army vehicles in the southern city of Sweida, where the Druze faith is one of the major religious groups – marking the third consecutive day Israel has struck Syrian forces.
The Israeli military confirmed it had “struck the entrance gate” in Damascus – and that it would be monitoring “actions being taken against Druze civilians in southern Syria”.
Image: The Israeli airstrike targeted Syria’s military headquarters. Pic: AP
Why Israel is getting involved in Syria’s internal fighting
Israel has shown little respect for international borders since becoming the unrivalled military hegemon of the Middle East. Today that meant an Israeli airstrike on a government building in Damascus.
Israel says its attack on a Syrian defence ministry facility was intended as a warning to the new government: stay out of the part of southern Syria we have occupied or else.
Israel has moved into parts of the south of the country, built military bases and declared a line of control.
On Monday, Syrian tanks heading south to try and restore order following an outbreak of factional fighting were attacked by Israeli warplanes.
“The presence of such vehicles in southern Syria could pose a threat to Israel,” stated the Israel Defence Forces.
In reality, Syria’s ageing tanks pose minimal threat to Israel’s state-of-the art military.
Local media said Sweida and nearby villages were coming under heavy artillery and mortar fire on Wednesday, according to Reuters.
The clashes marked the collapse of a ceasefire between Syrian government forces and Druze armed groups, with Israel also warning it would increase its involvement.
Image: Syria said its forces had responded to being fired upon. Pic: Reuters
Israel said it was acting to protect the Druze groups through its attacks on convoys of Syrian forces.
Syria blamed militias in Sweida for violating a ceasefire agreement which had only been reached on Tuesday.
A statement from its defence ministry said: “Military forces continue to respond to the source of fire inside the city of Sweida, while adhering to rules of engagement to protect residents, prevent harm, and ensure the safe return of those who left the city back to their homes.”
Israel’s defence minister Israel Katz said the military will continue to strike Syrian forces until they withdraw and should “leave Druze alone”, according to local reports.
At least 20 people have been killed in an incident in Khan Younis, according to the Gaza Humanitarian Foundation (GHF), an Israel and US-backed organisation.
In a statement, it said 19 people were trampled and one was stabbed in a surge “driven by agitators in the crowd”.
“We have credible reason to believe that elements within the crowd – armed and affiliated with Hamas – deliberately fomented the unrest,” it said.
“For the first time since operations began, GHF personnel identified multiple firearms in the crowd, one of which was confiscated. An American worker was also threatened with a firearm by a member of the crowd during the incident.”
It provided no evidence to support the claim.
The Hamas-run Gaza health ministry claimed 21 Palestinians were killed, “including 15 who died of suffocation as a result of tear gas fired at the starving people and the subsequent stampede” at the GHF site.
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2:54
Gaza deaths increase when aid sites open
The statement is unusual for the GHF, as the controversial group, which has been rejected by the United Nations and other aid groups, rarely acknowledges trouble at its distribution sites.
The GHF began distributing food packages in Gaza at the end of May, after Israel eased its 11-week blockade of aid into the territory.
It has four distribution centres, three of which are in the southern Gaza Strip. The sites, kept off-limits to independent media, are guarded by private security contractors and located in zones where the Israeli military operates.
Analysis: Gazans face unbearable choice of risking their lives for supplies or going hungry
by Lisa Holland, Sky News correspondent in Jerusalem
The United Nations has already condemned the aid centres run by the Gaza Humanitarian Foundation as “death traps” – and that was before the latest loss of life, seemingly mostly from suffocation.
It’s the first and only time we know of people dying in this way, waiting to get food. Although the Gaza health ministry and the GHF dispute exactly what happened.
But how much longer can this Israeli and American-backed way to supply aid continue when people are dying on a near-daily basis?
However it happened, Gaza’s overcrowded hospitals are once again overwhelmed.
And there are serious questions to answer about the organisation of a system which is supposed to be providing humanitarian aid to desperately hungry people, but instead is a place where there is so much loss of life.
It leaves people with an unbearable choice between risking their lives to get supplies or going hungry.
Palestinian witnesses say Israeli forces have repeatedly opened fire towards crowds of people going to receive aid.
The Israeli military says it has fired warning shots at people who have behaved in what it says is a suspicious manner. It says its forces operate near the aid sites to stop supplies from falling into the hands of militants.
After the deaths of hundreds of Palestinians trying to reach the aid hubs, the UN has called the GHF’s aid model “inherently unsafe” and a violation of humanitarian impartiality standards.
In response, a GHF spokesperson said: “The fact is the most deadly attacks on aid sites have been linked to UN convoys.”
Image: People carry distributed aid supplies in Khan Yunis, southern Gaza. File pic: AP
The GHF says it has delivered more than 70 million meals to Gazans in five weeks and claims other humanitarian groups – which refuse to work with the GHF – had “nearly all of their aid looted” by Hamas or criminal gangs.
Since the GHF sites began operating, more than 875 people have been killed while receiving aid, both at GHF distribution points or elsewhere, according to the UN human rights office and the Hamas-run Gaza health ministry.
At least 674 of those have been killed in the vicinity of aid distribution sites run by the GHF.