The water industry regulator is to appoint an independent monitor to supervise Thames Water’s turnaround plan after it breached its licence conditions last month when some of its debt was downgraded to junk status.
Ofwat, the regulator for England and Wales, said on Wednesday that the monitor would have access to the company’s financial information and would report back to the regulator, as the UK’s biggest water company attempts to avoid a government-handled administration.
