The water regulator has said Thames Water needs to secure extra cash itself amid reports the firm lobbied to hike bills and face lower fines.
The UK’s largest water firm hopes to agree a deal with Ofwat and the government to avoid a taxpayer bailout, the Financial Times reported.
The future of Thames Water has been uncertain since fears emerged that it could collapse last June.
The future of Thames Water has been uncertain since fears emerged that it could collapse last June.
Ofwat said it would not comment directly on the reports, but added: “Thames Water needs to continue to deliver on its turnaround plan to improve its operational and environmental performance.
“It is for the company to secure shareholder backing to improve its financial resilience,” a spokesman added.
Thames Water declined to comment when contacted by the BBC.
The Financial Times reported that Thames Water’s shareholders were willing to inject a further £3.25bn into the business – if they could strike a regulatory deal with Ofwat.
The newspaper said the company wanted the regulator to allow it to hike customer bills 40% by 2030 and grant it leniency on regulatory fines and around paying dividends.
The water regulator has said Thames Water needs to secure extra cash itself amid reports the firm lobbied to hike bills and face lower fines.
The future of Thames Water has been uncertain since fears emerged that it could collapse last June.
The UK’s largest water firm hopes to agree a deal with Ofwat and the government to avoid a taxpayer bailout, the Financial Times reported.
Ofwat said it would not comment directly on the reports, but added: “Thames Water needs to continue to deliver on its turnaround plan to improve its operational and environmental performance.
The future of Thames Water has been uncertain since fears emerged that it could collapse last June.
The future of Thames Water has been uncertain since fears emerged that it could collapse last June.
Ofwat said it would not comment directly on the reports, but added: “Thames Water needs to continue to deliver on its turnaround plan to improve its operational and environmental performance.
“It is for the company to secure shareholder backing to improve its financial resilience,” a spokesman added.
Thames Water declined to comment when contacted by the BBC.
The Financial Times reported that Thames Water’s shareholders were willing to inject a further £3.25bn into the business – if they could strike a regulatory deal with Ofwat.
The newspaper said the company wanted the regulator to allow it to hike customer bills 40% by 2030 and grant it leniency on regulatory fines and around paying dividends.
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