UK Regulator Admits Failure to Curb Water Company Debt as Customers Face Price Hikes

Ofwat acknowledges it should have prevented water companies from taking on too much debt, leading to financial issues at Thames Water and likely price increases for customers.
Thames Water, the UK's largest water company, needs £1.5 billion in new funding to stabilize its finances due to £14 billion in debt.
Most water companies are expected to raise customer bills significantly to fund infrastructure improvements and offset debt issues.
Ofwat aims to protect customers but says companies must take responsibility for their own debt levels.
Investor reluctance to provide more equity to Thames Water has complicated turnaround efforts.