Regulator Ofwat had dismissed the company’s original proposal, leading to questions over the firm’s future.
Thames’ huge debts have led to speculation it could be taken over by the government.
Thames’ huge debts have led to speculation it could be taken over by the government.
However, it currently has debts of about £14.7bn and it has also come under fierce criticism for water leaks and sewage spillages.
Thames had originally proposed investing £18.7bn between 2025 and 2030 and increasing customer bills by 40%, excluding inflation, over the five-year period.
Ofwat dismissed this plan, prompting shareholders at Thames’ parent company, Kemble Water, to withdraw a proposed cash injection and default on debt interest payments.
Thames has now proposed spending an extra £1.1bn on top of its original plans on “projects benefiting the environment”, although it did not give details of what these would be.
Thames’ huge debts have led to speculation it could be taken over by the government.
Regulator Ofwat had dismissed the company’s original proposal, leading to questions over the firm’s future.
However, it currently has debts of about £14.7bn and it has also come under fierce criticism for water leaks and sewage spillages.
Thames’ huge debts have led to speculation it could be taken over by the government.
Thames’ huge debts have led to speculation it could be taken over by the government.
However, it currently has debts of about £14.7bn and it has also come under fierce criticism for water leaks and sewage spillages.
Thames had originally proposed investing £18.7bn between 2025 and 2030 and increasing customer bills by 40%, excluding inflation, over the five-year period.
Ofwat dismissed this plan, prompting shareholders at Thames’ parent company, Kemble Water, to withdraw a proposed cash injection and default on debt interest payments.
Thames has now proposed spending an extra £1.1bn on top of its original plans on “projects benefiting the environment”, although it did not give details of what these would be.
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