The chief executive of Thames Water has refused to rule out bill increases of up to 40% for customers as the troubled company tries to secure its future.
It comes as the business, which serves nearly a quarter of the UK’s population, struggles with more than £15bn of debt and the huge interest payments required to service it.
Earlier on Thursday, its situation got worse when it was revealed that a £500m funding injection from shareholders expected by the end of this month would not be forthcoming.
When asked by Sky News’ Ian King about possible bill hikes, Thames Water chief executive Chris Weston replied: “I don’t think we have been at all secretive about that.
“But the plans that we have put forward – which are very much in accordance with what customers are asking us to do – require an investment of around £20bn in that 2025-2030 period, and that would result in a bill of around 40%.”
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