Thames Water to Run Out of Money by End of the Year

Thames Water's fate hangs on Burnham as cash runs out

Thames Water's future ​now rests on decisions to be taken by Britain's incoming Prime Minister Andy Burnham, its CEO said on Wednesday, with the ‌country's biggest water supplier warning it could run out of money by November unless creditors inject more cash.

Thames Water admits it has enough money to survive by end of year

Creditors are battling to secure a rescue deal for Thames Water

Thames Water to run out of money by end of the year

Thames Water is set to run out of cash by the end of the year as the UK’s largest private utility company struggles to secure a finalised rescue deal.  The embattled water firm – which serves around 16m customers, mostly in London and the South East – said in its latest financial report that it has £515m in cash, plus access to another £750 million in backup funding if needed.  But Thames Water confirmed this is only expected to last until some …

MPs call for special administration of Thames Water

They argue that allowing Thames Water to set its own rules would create a dangerous precedent for all of England’s privatised water companies

Thames Water warns on cash as customer complaints surge 101%

Thames Water has warned funding is due to dry up by the year's end, as it seeks to avert collapse through new ownership under its major lenders.

Renewed calls for Thames Water to be put into special administration to fund infrastructure improvements

MPs have renewed calls for Thames Water to be placed into a special administration regime (SAR) arguing it is the most straightforward way to address the company's mounting debt and the long-standing failures in its treatment and pipe networks. The post Renewed calls for Thames Water to be put into special administration to fund infrastructure improvements appeared first on New Civil Engineer.