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.