| Philip Fletcher | ||||||
On January 30, UK water regulator Philip Fletcher finally gave the go-ahead to Glas Cymru’s purchase of the assets of Welsh Water, in exchange for assuming £1.8 billion of the debt of Welsh Water’s owner, utilities group Hyder. Glas Cymru – “the people’s company” is to have what amounts to mutual status and become fully debt financed. Technically, it will be owned by nobody but guaranteed by 200 members – ranging from Welsh dignitaries to hospitals – whose individual personal liability will be capped at £1.
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