Fri, 14 Feb 2025

Fri, 14 Feb 2025 Thames Water launches appeal for larger bill rise

The water company says the cap on what it can charge customers for the next five years is too low.

* Thames Water has launched an appeal against Ofwat's decision to cap bill rises at 35% over five years.
* The company wants to increase bills by 53%, arguing it needs more money to invest in water infrastructure and cover costs related to climate change.
* The appeal is seen as a attempt to override Ofwat's decision, which balances the interests of consumers with the needs of companies to raise money for investment and return profits to shareholders.
* Critics say water companies have taken too much profit and built up debt over recent decades, instead of investing in infrastructure.
* Thames Water is also under investigation by Ofwat after admitting it would not complete more than 100 environmental schemes funded by customers.
* The company has a debt burden of £17bn and is seeking an emergency cash lifeline from investors to shore up its finances.
* Customer groups have expressed concerns that the bill increases will be passed on to consumers, who are already facing steep bill rises.
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