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Two Rivers

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Weather9°C, Wind SE at 18 km/h, 85% Humidity
Zip code54241
HotelsView hotels
Population11,153 (2017)
Local timeTuesday 14:35
Area16811577104
Area code920
Date of Reg.
Date of Upd.
ID2967099
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About Two Rivers


Two Rivers is a city in Manitowoc County, Wisconsin, United States. The population was 11,712 at the 2010 census. It is the birthplace of the ice cream sundae. The city's advertising slogan is "Catch our friendly waves" as it is located along Lake Michigan.

Thames Water needs 'substantial' sums of money

May 23,2022 2:25 am

By Faarea MasudBusiness reporter

The UK's largest water company Thames Water will need " substantial sums of money" to stabilise its finances, the water regulator has said.

Ofwat boss David Black said talks between The Firm and investors to raise The Extra funding were continuing.

The water firm, which serves a quarter of the UK population, is billions in debt and is Under Pressure to fix its finances after fears it could collapse.

There have been calls to nationalise The Firm

" We need to see their revised business plan but we think it's substantial sums of money [that are needed], " Mr Black said, while being quizzed at a Lord's business committee.

Mr Black said problems were most acute at Thames Water , and that he did not see the same level of issue at other companies.

The hearing came hours after it was announced that for discharging millions of litres of undiluted sewage into Two Rivers in Sussex and Surrey, killing More Than 1,400 fish in 2017.

Thames Water has faced heavy criticism over sewage discharges and leaks. The Company leaks more water than any other water company in the UK, losing the equivalent of up to 250 Olympic-sized swimming pools Every Day from its pipes.

Amid fears that the water firm would collapse, the government said last week and that a process was in place " if necessary".

A few days later, one of the UK's largest private pension funds, Universities Superannuation Scheme (USS), became The First major investor to Turn Around its finances and performance.

But Mr Black said there may not be an appetite from current investors to put further money into water companies.

He Said that the industry had built up too much debt from around 2006.

" I think we should have stepped in at that point to stop companies gearing up, " He Said , implying that water firms were taking on too much debt relative to equity, or available funds.

" We've changed companies' licences, we have got the powers to stop that Happening Now .

" At The Time , we really didn't have The Power to stop that happening, " Mr Black said, adding that now Ofwat was " very much of the view" that companies need to reduce their debt to reasonable levels.

If The Firm cannot secure investment, it could be placed under government administration until a new buyer is found.

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Source of news: bbc.com

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