Thames Water has warned the government that it faces bankruptcy if it is not allowed to raise bills by more than agreed with regulator Ofwat. The UK’s biggest water company will put it’s prices up by 35 per cent over the next five years, down from the 53 per cent that was requested.
Bosses have argued that the additional funding is needed to pay for new infrastructure investments over the next five years, but Ofwat has declined to change its decision. Thames Water now has until 18 February to decide whether to appeal to the Competition and Markets Authority.
