The water industry regulator has put Thames Water into unprecedented special measures, allowing extra scrutiny of the struggling water supplier as it faces the prospect of a painful restructuring or temporary nationalisation.
Ofwat said on Thursday that the company, which is creaking under £15.2bn of debt, would be placed in a “turnaround oversight regime” and subjected to “heightened regulatory” measures, meaning it must regularly report on the progress of its investment plan.
