A cross-party parliamentary committee has called for Thames Water to be placed in temporary state control, with any takeover by its creditors halted. The committee stated that a "special administration" regime would allow for the restructuring of the firm's £19bn debt, while shareholders are wiped out and creditors take a haircut.
Prime Minister Andy Burnham, who previously supported public ownership for Thames Water, is now reportedly exploring options for elected mayors to "oversee" private water companies. This approach has been described as oversight without ownership and proper control.
The issue of water privatisation will be a factor in the upcoming Holborn and St Pancras byelection, where a campaign to boycott Thames Water bills has emerged due to repeated flooding from broken pipes.
Polls indicate that a majority of Britons believe water companies should be publicly run. A Greenwich University study suggests nationalisation could save households up to ��160 annually by utilising low-cost state financing.