Thames Water, facing regulatory pressure to reduce its debt, has seen its shareholders retreat from providing additional financial support after demands for significant debt reduction and structural changes. The regulator's demands are believed to require an injection of over £8bn+ from the shareholders. In response to a major outage last year, Thames Water has offered a £30 goodwill payment to approximately 26,000 customers in Surrey. Meanwhile, Downing Street is exploring emergency plans to safeguard the utility company, including the possibility of placing Thames Water into special administration or seeking new shareholders to support the company.
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Downing Street’s emergency planning to save Thames Water includes putting the embattled utility company into special administration or finding new shareholders to prop it up, i has learned. 🔎Big read from @BenGartside https://t.co/GWkRxokj8T
Thames Water shareholders backed away from supporting the group after the regulator demanded they slash the company’s debt pile and make other structural changes they calculated would require them to stump up £8bn+. Story w/ @gillplimmer1 👇🏻 https://t.co/ZbL26W575U
Thames Water has offered a £30 goodwill payment to about 26,000 customers in Surrey after a major outage last year. Tap below to read more: https://t.co/pmkD4R9pWR
Thames Water shareholders backed away over regulator’s debt demands https://t.co/ecv6XqBFwh