Cash crisis deepens at water firm
| Published date | 29 March 2024 |
| Publication title | Huddersfield Daily Examiner |
Thames Water blamed
Ofwat, claiming that the regulator had made its business plan "uninvestible". It is understood that investors pulled the funding plan that was agreed last summer after Ofwat refused to bow to the water giant's demands for a 40% bill hike for customers, an easing of capital spending requirements, as well as leniency on penalties for failing to meet targets.
The debt-laden firm's chief executive, Chris
Weston, admitted that if no alternative funding could be found by the end of...
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