Energy
Thames Water Faces Tighter Oversight in New Turnaround Plan
- Regulator Ofwat wants to appoint monitor for reaching targets
- Special measures to be imposed at the UK utility within weeks
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Thames Water Utilities Ltd. will soon be put into special measures by the UK regulator as the beleaguered firm races to find new investors before running out of money.
Ofwat announced remedial actions Wednesday meant to restore the credit rating of the UK’s biggest water and sewage company after it was cut to junk last month — a downgrade that breaches its operating license.