Jul 5, 2023
Thames Water: Customers will not pay more if firm collapses
Customers will not be made to cover the cost if Thames Water goes bust, the boss of regulator Ofwat has said. David Black also told the BBC the firm had "Some time" to raise the funds it needs to fix it finances. Mr Black denied Ofwat had failed to monitor the firm, but admitted there were "Hard lessons to learn". Thames Water, which supplies a quarter of the UK population, has faced heavy criticism over sewage discharges and leaks and is under pressure to improve its services. With other big water companies also carrying high levels of debt, Ofwat has faced criticism that it failed to properly regulate the water industry.
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