Thames Water Fails to Publish Plans Critical to Its Survival
- Utility published only a public summary after Ofwat submission
- Plan was set to be key guide for managing financial situation
A Thames Water maintenance van in London, UK.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Thames Water Plc hasn’t published a crucial business plan outlining information about the company’s financial stability, a move that’s prompting concern among bondholders.
The water company, which provides services to around 15 million people in London, has so far only submitted a 13-page summary which lacks details needed for a full assessment, analysts say. Thames Water has been under intense scrutiny after it’s debt costs increased, which led the UK government to draw up contingency plans which at one point included a temporary nationalization, Bloomberg reported in June.