Seeking to raise cash from investors, the water provider currently has a £14 billion debt pile due to increased interest rates. It comes as several reports suggested concerns about Thames Water’s finances had now broadened to other firms in the industry. “There is a worst-case scenario where other companies end up in the same place as Thames Water.”Thames Water is looking for more money. (Image: PA)Thames Water could collapse amid debt pileA Government source pointed out that industry regulator Ofwat raised the issue in December in its 2021/22 Monitoring Financial Resilience report, with Thames Water, Southern, Yorkshire, SES and Portsmouth mentioned. Thames Water is now seeking to raise cash from investors as it struggles under a £14 billion debt pile, with the Government said to be laying the groundwork for the firm’s emergency nationalisation.

Source: The Times June 29, 2023 11:21 UTC