Thames Water's request to raise customer bills by 59% was significantly reduced by Ofwat, which will allow a 33% increase instead, aiming to support financial recovery.
Ofwat's decision to permit a 33% increase in Thames Water's bills marks a shift from its initial position, reflecting the regulator’s consideration of the company’s financial distress.
Despite the allowance for a bill increase, Thames Water is under scrutiny for past dividends and has pending fines from Ofwat related to sewage discharge investigations.
Thames Water faces intense pressure with its debt classified as junk status and is in special measures as it navigates a painful restructuring to avoid nationalisation.
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