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Thames Water lenders submit rescue plan to stave off collapse
The consortium plans £5.4 billion funding to support £20.5 billion investment aiming to reduce pollution by 30% and avoid special administration without taxpayer support.
- On Wednesday, London & Valley Water submitted to Ofwat a recapitalisation plan offering £5.8 billion to underpin £20.5 billion of investment over five years.
- Thames Water serves 16 million customers and is burdened by debts of over £20b and pollution fines of more than £100m, with asset deterioration and missed maintenance widening compliance gaps.
- The plan proposes a £3.15 billion equity commitment, £2.25 billion of new debt, and £12.5 billion of total write-offs, reducing Thames Water's leverage to 53% RCV.
- If adopted, the plan would avoid temporary special administration, reassure employees, customers and investors, and new shareholders will not sell before 31 March 2030 during the Turnaround Oversight Regime.
- The Plan embeds a PITP and IAF to drive compliance across AMP8–AMP10, targeting a 30% pollution reduction and cleaning 2,500km of sewers this AMP.
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Total News Sources18
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
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