Thames Water has less than two months to persuade the regulator that it has a feasible plan for its survival.
The troubled water company must present its plans to Ofwat before the regulator’s publication on June 12 of its draft determinations that set out what households will pay in water bills through to 2030.
The date effectively is D-Day for whether Thames Water, the financially stricken supplier and sewerage operator, becomes an investable proposition and is able to attract new equity investors to save the heavily indebted company.
The five-yearly determination has become especially acute because of the financial crisis at Thames Water, which is £18 billion in debt and the country’s largest water utility, serving 15 million customers.
Its nine shareholders led by the
