The British government has held emergency talks over the country's biggest water supplier, Thames Water, as the company buckles under huge debts.
The British government held emergency talks over the country's biggest water supplier, Thames Water, as the company buckles under huge debts.
Engineers from a Thames Water leak hunting team unloads equipment from their van during a night shift in London, UK, on Wednesday, May 2, 2023. The chief executive of Britain's biggest water supplier stepped down with immediate effect on Tuesday.The British government has held emergency talks over the fate of the country's biggest water supplier, Thames Water, and said it is ready for any outcome, including temporary state ownership, as the company buckles under huge debts.
"There is a lot of work going on behind the scenes with Thames Water to ensure that customers will not be impacted and there is a process in place if necessary to move us to the next stage," she told parliament on Wednesday. That happened in 2021 in the energy supply sector, which like water is also a privatised regulated industry, when the government rescued energy supplier Bulb after it collapsed, in a deal which cost taxpayers hundreds of millions of pounds.
Ofwat said it had been in ongoing talks with Thames Water about the need for a credible plan to turn the business around.Clean water campaign groups accuse the water companies of failing to invest in infrastructure. Public anger has been further stoked by the payment of dividends to investors and large salaries and bonuses to water industry executives.
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