Thames Water has secured another £750 million in emergency funding from its shareholders as it seeks to stave off the threat of nationalisation, but warned “significantly” more investment will be needed in future.
Britain’s biggest water supplier said the initial funding agreement to the end of March 2025 is a “major milestone”, although it is short of the firm’s £1 billion funding goal.
And the troubled utility admitted it will likely need around a further £2.5 billion between 2025 and 2030 as it struggles amid a £14 billion debt pile and is under pressure to spend heavily to tackle sewage releases into waterways and seas.
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