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    • More woes for Thames
     
    April 24, 2024

    More woes for Thames

    NewsWater

    Thames Water has announced that is it updating its recently submitted PR24 business plan, seeking an additional £1.1 billion increase in AMP8 total expenditure to £19.8 billion.

    It has also proposed that a further £1.9 billion of potential investment is placed into a “Deliverability Assessment Mechanism”. This would increase annual average customer bills by a further £19 over that period, reaching a total of £627.

    Covered in The Guardian, which also reports how a nationalisation plan for the company could move the bulk of its £15bn debt to the state. This would mean that some lenders could lose up to 40% of their money.

    Meanwhile, Bloomberg UK reports that Hedge funds including Millennium Management and Arrowstreet Capital are shorting the assets of UK water companies after a crisis at Thames Water spotlighted high debt levels across the industry.

    Tagged: Bills, debt, Thames

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