“A Hugely Unnecessary Mess!” Thames Water Scrambles To Find Cash After Investors Pull Funding

Thames Water bosses have admitted the firm could face the risk of emergency nationalisation as its funding crisis deepens after shareholders refused to give the troubled utility extra cash.

The group – the UK’s biggest water supplier with 16 million households across London and the South East – revealed that its investors had pulled a £500 million funding lifeline that was due to be paid at the end of this month.

Thames Water blamed Ofwat, claiming that the regulator had made its business plan “uninvestible”.

It is understood that investors pulled the funding plan that was agreed last summer after Ofwat refused to bow to the water giant’s demands for a 40% bill hike for customers, an easing of capital spending requirements, as well as leniency on penalties for failing to meet targets.

TalkTV’s Jake Berry discusses the story former CEO of Energy UK Angela Knight.

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