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Thames Water boss refuses to rule out bill increases of up to 40% to secure company's future

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The water company has revealed £500m in funding from shareholders will not arrive by the end of this month, as had been anticipated.

The chief executive of Thames Water has refused to rule out bill increases of up to 40% for customers as the troubled company tries to secure its future. It comes as the business, which serves nearly a quarter of the UK's population, struggles with more than £15bn of debt and the huge interest payments required to service it.

Mr Weston said he recognised any increase in bills 'could be very, very difficult for people', adding that the company was looking at what could be done to help the most vulnerable.

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