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Thames Water Faces Break Up as Ofwat Rejects Full Bill Hike
Posted
July 13, 2024
Views
2,299
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49
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July 13, 2024
2,299
49
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2.17%
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1:00Now PlayingThe UK’s biggest water and sewage company could be broken up, listed on the stock exchange, or forced to cap its debt under special measures set out by the regulator on Thursday.
Heavily-indebted Thames Water will be put into a Turnaround Oversight Regime to ensure it can fix chronic leaks and sewage spills, according to the draft ruling. Ofwat also limited the amount Thames can hike annual customer bills to £535 ($688) per household, in line with the average increase for the industry. But it’s well below the £627 proposed by Thames.
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