After the environment secretary unveiled new regulations that might result in jail time for the executives of water companies as well as an industry review, Mr. Weston told News he was not concerned about the possibility of going to jail and that he was convinced he could turn around the struggling business.
He remarked, “I need to process what the secretary of state said today. I support his efforts to clean up the rivers in every way.
Like him, my main goal is to attract investment, and I’ll collaborate with the secretary of state to make that happen. The tone really encourages me.
The tone I heard gives me great encouragement, and I will collaborate with him to attempt to accomplish what he has suggested.”
Straight up, when asked if he could save Thames Water, he replied, “I can save it.”
Mr. Weston is scrambling to secure new investment as existing owners withdrew their plans for £3.5 billion of fresh equity, leaving him with approximately £18 billion in debt and cash reserves that will last just until May of next year.
