Thames Water’s profits surge after bills increase by nearly a third

• Thames Water is currently engaged in critical rescue package discussions with its creditors, despite reporting a significant increase in revenues and profits.
• The utility company's revenues rose by 42 per cent and profits reached £414m in the six months to September, primarily driven by a 31 per cent increase in customer bills.
• Customer complaints surged by three-quarters to 55,158 during the same period, directly correlating with the higher charges imposed on consumers.
• Burdened by an approximate £17.5bn debt load, Thames Water is negotiating with a consortium of creditors for a deal involving capital injection and debt write-off to prevent temporary nationalisation.
• The company has expressed "material uncertainty" regarding the successful finalisation of this deal, which is crucial for stabilising its precarious financial situation.

IN FULL

Thames Water’s revenue surges amid bill hikes and rise in complaints