![Thames Water placed in Ofwat 'special measures'](https://cdn.magzter.com/1591272731/1720708431/articles/EMjTa5WKO1720720299153/THAMES-WATER-PLACED-IN-OFWAT-SPECIAL-MEASURES.jpg)
In their draft determination Ofwat bosses said they were unconvinced by Thames’s submission for the PR24 regulatory period and will only allow bills to go up by 23% in real terms over the next five years.
The decision comes two days after Thames Water’s boss Chris Weston said the company will effectively be bust by May next year when, without further investment from shareholders, it will reach the end of its “liquidity runway”.
The crisis blew up in March when shareholders, which include Canadian pension fund Omers, the British university staff pension scheme USS, the BT Pension Scheme manager Hermes, the Abu Dhabi Investment Authority, and the China Investment Corporation, said they would be withholding a £500 million injection, leaving a yawning hole in the company’s finances.
Thames has until 28 August to respond to Ofwat’s plans, which it has previously described as “uninvestable”, before a final decision in December.
この記事は Evening Standard の July 11, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Evening Standard の July 11, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
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