Thames Water has initiated an appeal to challenge Ofwat’s decision to cap bill increases at 35% over the next five years. Facing significant financial struggles with debts totaling £17 billion, Thames argues for a 53% rise to facilitate necessary investments in water infrastructure and ensure reliable supplies amid climate challenges. While awaiting approval for a £3 billion rescue from investors, Thames claims this appeal serves the interests of customers and the environment. This decision could prompt a review lasting up to six months while other companies opt not to appeal, reflecting varying perspectives on financial strategies in the industry.
"Thames Water is appealing to raise bills beyond Ofwat's cap, arguing deeper financial investment is essential for resilient water supplies amid climate challenges."
"Thames asserts that a 53% rise is necessary over five years to address both infrastructure needs and deliver 'safe and resilient' water services."
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