Ofwat says UK’s biggest water company will come under extra scrutiny as it faces prospect of restructuring or temporary renationalisation
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The water industry regulator has put Thames Water into unprecedented special measures, allowing extra scrutiny of the struggling water supplier as it faces the prospect of a painful restructuring or temporary nationalisation.
Ofwat said on Thursday that the company, which is creaking under £15.2bn of debt, would be placed in a “turnaround oversight regime” and subject to “heightened regulatory” measures, meaning it must regularly report on the progress of its investment plan.
Continue reading…Ofwat says UK’s biggest water company will come under extra scrutiny as it faces prospect of restructuring or temporary renationalisationBusiness live – latest updatesThe water industry regulator has put Thames Water into unprecedented special measures, allowing extra scrutiny of the struggling water supplier as it faces the prospect of a painful restructuring or temporary nationalisation.Ofwat said on Thursday that the company, which is creaking under £15.2bn of debt, would be placed in a “turnaround oversight regime” and subject to “heightened regulatory” measures, meaning it must regularly report on the progress of its investment plan. Continue reading…