Thames Water has proposed an increase of up to 59% in average customer bills by 2030, citing funding crises and a need to invest in infrastructure.
Thames Water's proposal more than doubles Ofwat's projected 23% increase, showcasing a need for substantial funds to address their reported £15bn debt.
The company argues that Ofwat's proposed cap on bill increases makes their business model unviable, placing their future operations at risk.
To keep afloat, Thames Water has initiated talks for a cash injection while claiming that adjustments in customer numbers are driving significant bill increases.
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