Thames Water seeks court approval for emergency cash

Published On Feb 2, 2025, 6:59 PM

Thames Water is seeking court approval for a £3bn emergency funding lifeline to avoid financial collapse. Lenders are offering these loans amid the company's dire financial state, which has been worsened by high debt and regulatory pressures. If the court does not approve this lifeline, Thames could face temporary nationalisation, costing the government about £2bn a year. The company is also considering appealing a decision that would increase customer bills by 35% over five years, but this appeal could take a year.