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The Independent UK
The Independent UK
National
Holly Williams

Update on Thames Water crisis amid company’s £20bn debts

Thames Water
  • Thames Water's debt has increased to nearly £20 billion, despite reporting pre-tax profits of £226.4 million for the year to March 31.
  • The UK's largest water supplier has sufficient funding until October and is dependent on creditors to secure a rescue deal.
  • Creditors are attempting to finalise a takeover to prevent the temporary nationalisation of the debt-laden utility.
  • Environment Secretary Emma Reynolds previously rejected a £10 billion rescue plan, deeming it insufficient to protect customers or the environment.
  • CEO Chris Weston is seeking urgent clarity from prime minister-in-waiting Andy Burnham regarding his plans for the water sector, as the company's funding situation is “not sustainable”.

IN FULL

Thames Water admits it has enough money to survive until the end of year amid £20bn debts

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