Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleThames Water is moving closer to potential nationalisation after Environment Secretary Emma Reynolds raised concerns about a proposed rescue plan. The UK's largest water supplier, serving 16 million customers, has been struggling with nearly £20 billion in debt since 2023. Creditors offered a deal including £3.35 billion of new equity and up to £6.55 billion of new debt, but Ms Reynolds believes it places an “undue” burden on taxpayers and is not good enough for consumers or the environment. If a deal is not agreed with the regulator Ofwat, Thames Water could enter a special administration regime (SAR), leading to temporary nationalisation. The government prefers a “market solution” over nationalisation, and this issue arises amidst wider political discussions about renationalising the water industry. In fullThames Water edges closer to nationalisation amid minister’s concerns over rescue dealThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Concerns over rescue deal could mean Thames Water is nationalised
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleThames Water is moving closer to potential nationalisation after Environment Secretary Emma Reynolds raised concerns about a proposed rescue plan. The UK's largest water supplier, serving 16 million customers, has been struggling with nearly £20 billion in debt since 2023. Creditors offered a deal including £3.35 billion of new equity and up to £6.55 billion of new debt, but Ms Reynolds believes it places an “undue” burden on taxpayers and is not good enough for consumers or the environment. If a deal is not agreed with the regulator Ofwat, Thames Water could enter a special administration regime (SAR), leading to temporary nationalisation. The government prefers a “market solution” over nationalisation, and this issue arises amidst wider political discussions about renationalising the water industry. In fullThames Water edges closer to nationalisation amid minister’s concerns over rescue dealThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
