As our water pipes have been left to crumble into disrepair with vital maintenance delayed, the water companies have wasted millions on expensive legal firms tasked with downplaying the extent of the sewage scandal. My constituents will be outraged by what our committee has uncovered. That money should be spent fixing our broken water infrastructure not trying to deny the scale of the problem.
The government recognises the seriousness of the situation facing Thames Water Our position remains that the company should find a sustainable, market-based solution to the current situation. This solution must not only secure the company's long-term financial stability but also deliver a successful turnaround that achieves positive outcomes for customers and the environment.
Thames Water has confirmed the incident in Plender Street this afternoon (July 6). As a result of the incident, tap water flow has been impacted, with some properties experiencing low water pressure or no water at all.
The effort to restructure Thames Water's balance sheet is complex and time-consuming, primarily dependent on lenders agreeing to write off losses and regulatory approvals.