Thames Water Unable to Repay £190m Loan Amid £18bn Debt

Company seeks £1.5bn cash injection from shareholders and proposes 40% increase in bills, sparking concerns of government takeover and regulator investigation.

Thames Water, the UK's largest water provider, has admitted it cannot repay a £190m loan due in April 2024.
The company, which serves 15 million households, is struggling with debts of £18bn and is seeking an injection of £1.5bn of cash from shareholders to turn itself around.
Thames Water's financial troubles have led to speculation that it might be taken over by the government, which would result in a hefty bill for taxpayers.
The company has requested a 40% increase in bills in a business proposal submitted to Ofwat, contingent on tackling leaks, customer complaints, supply interruptions and pollution.
Ofwat, the water services regulator, has reiterated concerns over the amount of money the firm has borrowed and is investigating dividends of £37.5m paid to the parent company.