- The Environment, Food and Rural Affairs Committee has urged the government to reject a £10 billion creditor-led rescue plan for Thames Water and take the firm into public control.
- MPs warned that the consortium of creditors, London & Valley Water, prioritises extracting immediate value over the long-term success of the utility and the environment.
- Thames Water, which serves 16 million customers, faces running out of funds by the end of the year as it struggles with a debt burden exceeding £20 billion.
- Efra Committee chairman Alistair Carmichael called for legal reforms to strengthen the Special Administration Regime, allowing earlier government intervention.
- London & Valley Water and Thames Water defended the proposal, claiming recapitalisation is the fastest way to maintain investment and address the firm's financial crisis.
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