Sunday newspaper round-up: Regulated Utilities, Rolls-Royce, Fuel allowance
Singapore sovereign wealth fund GIC is among several international investors who have told the government that they will not look at opportunities in the UK regulated utility sector in the wake of crisis around Thames Water. It is understood that one person at the meeting said that the "UK is totally off our radar at the moment" due to regulators having become "too unpredictable". However, GIC was said to remain bullish on other UK investment opportunities notwithstanding their negativity towards UK regulated utilities. - The Sunday Times
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Rolls-Royce Holdings
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Rolls-Royce is near to inking deals to construct small modular nuclear power plants in Sweden and the Netherlands. The engineer has told The Mail on Sunday that the two deals would be signed by the end of 2024. The news follows the announcement during the previous week that Czech authorities had chosen Rolls-Royce as preferred supplier to its state-owned CEZ. - The Financial Mail on Sunday
No 10 is bracing for a potential setback in a vote on the Chancellor's cuts to the winter fuel allowance for pensioners at the Labour conference. Trade unions are expected to push for the decision to be reversed, although the timing of the vote has yet to be agreed. The vote however is not binding. - Guardian
Thames Water's creditors are looking to inject over £1bn before the end of 2024 in order to help the utility group right its finances. Several hedge funds and institutions who hold approximately £10bn of Thames Water's debt think that the company requires a stop-gap lifeline to help it until it is restructured. The utility has said that it has enough cash to operate until May. The stricken utility is sitting atop a £16.5bn debt pile. Yet any new investor will first want to know Ofwat's final decision on how much Thames can charge customers over the next five years. - The Sunday Times