Thames Water Hikes Infrastructure Fix Price by £1.1 Billion
- Thames sticks to previous bill rise forecast of 40% by 2030
- Troubled utility still doesn’t have backing of shareholders
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Thames Water said it will need to spend £1.1 billion ($1.4 billion) more than previously thought to fix chronic leaks and sewage spills, despite not having the backing of its shareholders for new equity.
The UK’s largest water and sewage utility issued a delayed update to its proposed five-year business plan on Monday, in a last-ditch attempt to get the support of the regulator, which is due to publish its draft decision in June.