From Morningstar: 2024-04-22 08:18:00

Thames Water plans to increase spending by £1.1 billion and potentially invest an additional £1.9 billion in its network, likely leading to a 44% rise in customer bills. This comes amidst a funding crisis as the company struggles with £15 billion of debt. Thames Water, with 16 million customers, originally intended a 40% bill increase to fund a £18.7 billion investment program. The company’s revised business plan is awaiting approval from Ofwat, due on June 12. If approved, bills could rise to £627 a year by 2030. Tide Water is considering approaching lenders to fund the spending plans and potentially taking out a new loan. The Liberal Democrats have criticized the potential bill hikes, proposing a bill to place Thames Water into special administration.



Read more at Morningstar: New Thames Water Plans Could See Bills Surge by 44%