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The Latest Breaking News from Thames

Thames Water says new Abingdon reservoir could cost bill-payers up to £7.5bn

Price rise to three times original budget is a blow to government’s reservoir expansion plans

The Guardian - UK

Hong Kong’s CKI a leading contender to buy Thames Water, reports say

The infrastructure company is among those lining up to acquire the struggling utility if it collapses

The Guardian - UK

Thames Water: advisers appointed to plan for company’s potential collapse

FTI Consulting seen as frontrunner to advise on placing the utility into a special administration regime

The Guardian - UK

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Government lines up insolvency firm in case of Thames Water collapse

Contingency plans could see Britain’s biggest water firm placed into a special administration regime.

Evening Standard

Labour MPs urge Thames Water to recover £2.5m paid to executives in April

Exclusive: Letter to water company sets out demands, including resolving most severe cases of pollution

The Guardian - UK

Charity in legal action against minister for failing to act over Thames Water

River Action says failure to publish and put into practice policy on nationalisation of failing water firms is unlawful

The Guardian - UK

The UK’s Thames Water Could Be Renationalized - What Lessons Can Be Learned?

A completely privately run public water system is an experiment few countries have decided to try.

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‘Outwitted’: have water companies managed to sidestep Labour’s bonus ban?

Concerns loophole in 2025 act allows payouts at firms that repeatedly pollute England’s waterways with sewage

The Guardian - UK

Thames Water still in ‘crisis mode’ as turnaround set to take a decade

The UK’s largest water supplier also revealed a sharp increase in pollution incidents over the past year.

Evening Standard

FTSE 100 share index hits 9,000 points for the first time; US inflation rate rises to 2.7% – as it happened

London stock market hits new peak, Thames Water reports £1.6bn loss, and Rachel Reeves outlines ‘Leeds reforms’ for financial services

The Guardian - UK

Thames Water announces hosepipe ban as dry weather depletes reservoirs

Restrictions to come into effect in Gloucestershire, Oxfordshire, Berkshire and Wiltshire from 22 July

The Guardian - UK

Thames Water spent £136m on securing emergency funding, leaked document suggests

‘Atypical expenditure’ document suggests utility’s costs over 12 months outstripped the £130m it paid in fines

The Guardian - UK

Thames Water Under Fire After Emergency Loan Was Given As 'Extravagant' £2.5m Bonuses

Thames Water used funds from an emergency loan to pay £2.46 million in bonuses to 21 managers, despite the loan being intended to keep the troubled company afloat.

International Business Times UK

Thames Water refuses to claw back bonuses paid using £3bn emergency loan

Money was paid out from loan meant to stabilise firm’s finances weeks before it paused retention payments plan

The Guardian - UK

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The Guardian - UK

Macquarie digs deeper for redemption at Southern Water. There was no alternative

Infamous former owner of Thames Water coughs up more capital in bid to turn around badly performing utility

The Guardian - UK

What would happen if Thames Water is temporarily renationalised?

The government could put the struggling utility into a special administration regime – but what does this involve?

The Guardian - UK

Thames Water court case shows there are alternatives to massive infrastructure

It is what we might call the HS2 fallacy: new reservoirs as tall as high-rise buildings that boost water companies’ assets

The Guardian - UK

Thames Water lenders demand government effectively block campaigners from legal action

Creditors owed £13bn say ministers should prioritise ‘environmental betterment over punitive enforcement’

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The Guardian - UK

Put Thames Water into temporary state control, ‘junior’ creditors will argue

£5bn rescue plan would set ‘troubling precedent’, bondholders who face losing all of their money will say

The Independent UK

Thames Water lenders offer £17 billion rescue deal in return for looser rules

The deal would also see “several billion” pounds’ worth of debt written off

The Guardian - UK

Thames Water’s creditors are being too greedy

If group of lenders has any prospect of getting its proposal to fly, some of its big numbers will have to look very different

The Guardian - UK

Thames Water creditors offer up £5bn as part of emergency turnaround plan

Regulator Ofwat concerned that plans do not write off enough debt to secure investment-grade credit rating

Evening Standard

Creditors table £17bn plan for Thames Water but call for regulatory leniency

The lenders in the utility are proposing to invest another £3 billion in new equity and £2 billion of funding, but also write off billions of debt.

The Guardian - UK

MPs ask minister if he will claw back Thames Water executive bonuses

Chair of troubled firm admits 21 senior managers were paid 50% of base salary on 30 April

Evening Standard

Water firms would be foolish to increase salaries to get around bonus ban – Reed

Six firms have been banned from paying bonuses to senior bosses under new rules that came into force on Friday.

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