Bills could rise to £627 a year by 2030 under the new plansThere are fears that customers' Thames Water bills could surge by 44 per cent as the troubled water company unveiled new plans to boost spending.
If Ofwat was to give the full plans the go-ahead, this would see customer bills rise to £627 a year by 2030.There are fears customers bills could rise by 44 per cent to cover the proposed increase in spendingThames Water Chief Executive Chris Weston said the updated business plan 'will benefit the environment'
Thames Water has had to rethink its business plan in a bid to stave off collapse as it crumbles under the weight of £15 billion of debt. The company had £2.4 billion cash available as of February, enough for it to remain solvent until next year.
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Thames Water funding woes deepen after shareholders pull investment planThe group said the first £500 million of the new equity that had been agreed will not be provided by its shareholders by March 31.
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