In this article, Richard Lowe reports on the reasons behind Thames Water being removed from the infra300® market index in July 2024 and being replaced by UK Power Networks, an electricity distribution network operator covering London, South East and East of England.

“Thames Water has been removed from Infra300, the US$290bn (€265bn) global index that tracks an investable universe of private infrastructure assets.

Scientific Infra & Private Assets (SIPA), which runs the index of 300 infrastructure assets in 20 countries, said the removal of the troubled UK utilities company took effect at the beginning of July.

SIPA, which is part of the EDHEC Infrastructure & Private Assets Research Institute, said uncertainty over Thames Water’s “ability to operate as a private infrastructure business under current and anticipated regulatory conditions” led to a “comprehensive review” of its inclusion in the index.

(…) By 30 June 2024, Thames Water’s market capital, as reported by SIPA’s InfraMetrics, had plummeted by 51.8% compared with the previous quarter.”

Read the full story here.