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Thames Water is more than £16 billion in debt (Andrew Matthews/PA) (PA Archive) The extent of issues faced by Thames Water has been revealed in a new investigation, prompting concern from ...
The utility, which is England’s biggest water company with about 16 million customers, is in about £16 billion of debt and needs £3.3bn over the next five years to keep running.
The government is scrambling to put together a plan to rescue Thames Water over increasing fears the company is set to go bust.. The utility giant is struggling under a £14 billion debt pile it ...
The company has been criticised for paying substantial dividends to shareholders while simultaneously taking out loans, accumulating £14 billion in debts. In June 2023, Thames Water was reported to be close to financial collapse. In April 2024, the UK Government was reported to be considering plans to renationalise the company.
Thames Water, which has a £14 billion ($17.9 billion) debt pile, anticipates that an extra £2.5 billion ($3.2 billion) of equity funding will be needed in the five years to 2030 to help it ...
In June 2023, Montague was appointed as chair of the Board at Thames Water and its parent company Kemble Water. [7] His appointment came amid scrutiny on the financial stability of the water company. [7] In February 2024, Montague resigned as chair from Kemble Water but retained his position at Thames Water. [8]
The scheme had investment costs of .34% in 2019 [2] (compared to 0.32% (32 basis points) total annual administration costs of £124.9m in 2017), [14] and pension administration costs of £69 per member. In July 2023, it was announced that after more than a decade in deficit the scheme has swung into a surplus of £7.4 billion.
Water industry ownership restrictions that prevent consolidation mean the money spent on the bailout of Bulb could be dwarfed if Thames Water was to fail. Sarah Bentley was paid £1.6mn despite ...