Approximately 27% of Britain’s population receives their water from Thames Water. But Thames Water is verging on collapse.
Why is Thames Water in trouble?
According to an article in The Guardian, Thames Water is creaking under £14 billion debt, and hefty fines for the repeated discharge of raw sewage into rivers.
Ministers and the industry regulator Ofwat are now drawing up a contingency plan of how to manage the situation should the company be unable to secure further funding.
Thames Water is owned by a number of pension funds and wealth investors.
Whatever the outcome, the water supply will continue as normal, but should the company be placed in temporary public ownership, it could lead to higher prices.
The financial issues of Thames Water is also putting a spotlight on planned price hikes in the coming years to tackle the raw sewage crisis in the UK.
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