- Thames Water's debt has increased to nearly £20 billion, despite reporting pre-tax profits of £226.4 million for the year to March 31.
- The UK's largest water supplier has sufficient funding until October and is dependent on creditors to secure a rescue deal.
- Creditors are attempting to finalise a takeover to prevent the temporary nationalisation of the debt-laden utility.
- Environment Secretary Emma Reynolds previously rejected a £10 billion rescue plan, deeming it insufficient to protect customers or the environment.
- CEO Chris Weston is seeking urgent clarity from prime minister-in-waiting Andy Burnham regarding his plans for the water sector, as the company's funding situation is “not sustainable”.
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