Fri, 20 Jun 2025

Fri, 20 Jun 2025 Thames Water nationalisation prep 'stepped up'

The Environment Secretary Steve Reed says the government "stand ready for all eventualities".
The government has increased its preparations for taking control of Thames Water, a private water company, if necessary. This comes after US investors KKR pulled out of a £4 billion deal to rescue the company, which is struggling with huge debts and infrastructure problems. Thames Water serves about one quarter of the UK population, but it's been criticized for its failure to fix leaks, stop sewage spills, and modernize its outdated infrastructure. The government has said that Thames Water must meet its regulatory obligations and face consequences if it fails to do so. The company is trying to stay afloat by getting a new investment plan in place, which would allow it to raise equity and improve its financial situation. However, the government says it's ready to take control of the company if necessary to protect customers and the environment. Regardless of who owns Thames Water, the public will not notice any changes to their water services, as they will continue as normal.
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