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What next for water?

The Bottom Line

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Can These Companies Survive?

I do also think that dividends have been overpaid. And what I would suggest is that we have a sliding scale whereby if you pay out dividends higher than the ones the regulator is allowing for, you should re-reducing prices. But these companies, I mean there's a sort of sense that everything wrong with capitalism is that when you create these companies they've got no debt. The first thing they go and do is borrow lots of money. All that sitting on your balance sheet makes you a brittle company because now your obligations are absolutely fixed. You've got to pay them or you lose the company.

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