Thames Water has made a £1.1bn stab at answering the questions swirling around the troubled company, updating its five-year business plan. But it failed to address the one issue that will define its future: how it will find the funds to survive, other than trying to squeeze more money from customers.
Since its spending plan was first submitted to the regulator Ofwat in October, the government has accelerated contingency plans in case Thames goes bust, its shareholders have pulled the plug on £500m of funding and industry “bruiser” Chris Weston is now its chief executive.
