Thames Water says it has enough cash until May next year

Debt-laden Thames Water has said it has enough cash to fund its operations until May next year but that efforts to raise new money are continuing. The UK's largest water company reported an increase in annual profits for the year to March but its debts also climbed to £15.2bn. Thames Water, which has faced fierce criticism over the number of sewage discharges and leaks, is facing questions over whether it can survive. Later this week, the water regulator Ofwat is due to publish its draft ruling on how much water companies can charge their customers for the next five years. There has been speculation Thames Water might have to be taken over by the government if it runs out of money. The company says it has funding of £1.8bn, which is enough to fund its operations until May next year.

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