Tue, 18 Nov 2025

Tue, 18 Nov 2025 Thames Water rescue plan attacked by excluded bidders

Potential bidders say they are frustrated to have been frozen out of talks on the future of the UK's biggest water utility.
CKI Holdings has expressed frustration over being unable to bid for Thames Water despite having a strong track record in managing water utilities. Its analysis suggests that Thames customer bills could be nearly 20% higher in five years if the rescue plan proposed by lenders is approved. Castle Water has also submitted its own proposal, offering an additional £1bn injection into Thames Water compared to the existing rescue plan. However, sources have questioned the credibility of this bid. Economist and infrastructure expert Prof Dieter Helm argues that the bondholders' primary concern is to limit the extent to which their existing loans are written off, rather than prioritizing the long-term interests of the company and its customers. The government is keen to avoid a Special Administration Regime (SAR) for Thames Water, as it could cost billions in the short to medium term. However, Prof Helm believes that an SAR would be the best way to give Thames a fresh start with a bigger debt write-off.
  >>