The future of Britain’s largest water utility is hanging in the balance following a breakdown in talks with the industry regulator, Ofwat.
For months, Thames Water’s shareholders have been pushing, without success, for concessions in return for pumping more money into the debt-laden company. They want Thames to be allowed to increase bills by 56% by 2030 and pay lower environmental fines. Last week, they pulled the plug on a pledge to provide an initial cash bailout of £500m by the end of March, saying Ofwat’s intransigence had made Thames Water “uninvestable”.
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