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Recent discussion in various quarters about sewage emergency overflow and the perceived difficulties remind me of the halcyon days of fishing in the Thames estuary near the Towers (about 4 miles east of Southend pier) in a boat.
On a calm day on the ebb tide we would see the Bovril Boats (sewage carrying vessels - usually two) which sailed further out to sea and discharged as I recall 20000 tons each of sewage from London. On the flood tide later we would see on a calm day a brown line stretching across the estuary (5 miles at that point) which drifted slowly back towards London.
I often felt this contributed to the excellent quality of the eels and shellfish in the area.
The removal of sewage particularly following storm overflow will be assisted by the new huge main now completed across London. Perhaps with the wartime PLUTO in mind an extension could be added similar to the oil rig connections to run the problem much further out to sea for use only in extreme conditions? The final answer must surely be to build further sewage farm capacity or perhaps add two extra sealable containers for council collection as in times past. Just a thought .
According to press today the commencement of private court action against 5 companies including UU will commence in September. If upheld (certification of the complaint) it could be 3 years before any fines are made. Ofwat is monitoring but Thames is not included at this stage! My thoughts are that as UU has already made provision for millions to upgrade an already utility leading service and notification of sewage spills have apparently followed the OFWAT guidelines which allow companies to grade the leaks themselves the possibility of sanction or fines seems remote. Any thoughts anyone?
It seems that the possible demise of Thames Water and likely losses for equity and possibly bond holders, is feeding through even to well managed companies like UU.
Think labour's bark worse than their bite
Coming possible recession makes these shares a good buy as more or less immune
Has there been an approach? What's behind the climb?
Which January?
End of January 1145 p
What are your calculations for this figure?
Been on a rip recently. Only a buy when it drops back to 925p.
Mickey1
I don't think I'd like to swim in either thanks!! The article referred to is somewhat vague as many journalistic efforts are. The sentences Leaked documents "suggest" don't give any hard facts. The reference further on to 200 reported incidents of which 60 cases "appear to have been downgraded" is equally vague. The leak in the lake was admitted by the company director involved and all cases were signed off by the EA. I would agree the EA were not doing their supervision properly in 2022 and this must be tightened up. However to agree to the downgrading means they must have been correctly reported by the company. Cool heads and hard facts are required to remedy the situation . Good luck with your swim!
Hope9, fair comment, but I think I would much prefer swimming in water thats been fouled by ducks, fish etc rather than the massive amounts of raw human sewage released by UU. This company is one of my major holdings, I am concerned by their behaviour and their own downgrading of serious incidents.
With thousands of ducks, geese waterfowl and other birds as well as thousands of fish defecating daily into the lake I wonder how that compares with the occasional UU leaks referred to. How many tons per year from the birdlife? Balance required
The drop today will probably have something to do with this:
https://www.bbc.co.uk/news/science-environment-67567323
More than a bit worrying.
In the words of the Immortal Howling Wolf. The SP will be Going Down Slow as the General election approaches. Sir Kier will have his beady eyes on suitable companies to loot in order to fund his plans. Utilities are an obvious target. Got rid of mine yesterday as now too high risk!! Dont expect advance warning from politicians about where they expect to get money from!! Other targets?? i will let you know after I have ditched my stock!!
Going to sale them at 12.00 o soon
Sorry, "withOUT recourse to equity finance".
Joined the Zoom presentation following the RNS. Louise Beardmore described the results as "robust" (that word seems to be creeping in more and more!). She gave a more detailed explanation of their ambitious investment plans, some of which was a bit over my head too technical for me (note to self: read the annual report in more detail).
Utility stocks a probably never going to be the high fliers in any portfolio but I was impressed that Louise and Phil had a strong grip on their brief. the guts of which for the current AMP 7 regulatory period are:-
· Continue to target AMP7 net ODI reward of around £200m
· Forecast average real RoRE6 of 6-8%
· RCV growth of 4-5% nominal compound annual growth rate
· Targeting dividend growth in line with CPIH
· Maintain gearing within target range of 55-65%
They were confident that they could maintain the high Cap Ex and the dividend with recourse to equity finance. Saying all the right things from subjects as far apart as sewage spills to engagement with the Labour party. Still a firm "hold" for me but a potential sell if it outperforms the market by more that 10% (Current Price Relative 0.2655)
Over the last week then large buy after hours tonight. If the storm doesn't blow the sewers again this could climb further especially with the bond market turmoil. GLA
Hope.. divi is useless in these times, vod 10.2pc and high chance takeover, others as aviva lgen profits from annuities booked allready and 7 to 8pc divi
It seems we are still in the top ranked sector and have avoided the refund order given to other less well-performing companies. We appear to be able to make increases if necessary an update on the sewage problems would be welcome. GLA
This has been ongoing for five years during which time UU would have made some provision and I would be surprised if there had not been some preparatory discussion with OWAT hence the plea of guilty to overextraction during a three year period and "voluntary" donation of £3M to river conservation plus an apology and upgrade of monitoring. The total of £3.8M will not affect the MC of £3360M too much and we are still in the top tier of OFWAT companies. I think that as in the past there will be a good recovery in SP and today's price makes the forecast of about 4.8% dividend look attractive. Everyone needs water and I think we are miles away from nationalisation. All IMHO GL.
as i recall with british rail they issued a glowing rns which stated "all our troubles are over" causing the share price up to boom ~£14. a short time later the nationalisation was announced at the original flotation price of £2.60. this is an indication of what to expect. those who ignored the ****ty job will have had 25 years of unwarranted 'bonus' & pension payments, the crap then falls back on the taxpayer.
on flotation a utility boss was asked why his pay had trebled, he replied "last week i was running a utility co, this week i am head of a ftse 100 company". daylight robbery.
Does anyone know what may happen to shareholders if water companies were to be nationalised? Would the government payout the share valuation? Also is there a valid risk of nationalisation? Any views would be much appreciated.
"increasing pressure"! Lol
I sold out of UU last year at 1150p at 60% profit (one of my better buys). Even with the decent yield, it would have taken years to make that sort of profit in dividends and I couldn’t see the sp climbing much higher, so there wasn’t a great case for holding.
I’m glad I got out. Even a well run water company like UU is going to come under increasing pressure (and possibly legislation) to divert more of its profits to infrastructure spending - and the sp will probably take more of a hit.