Image description: Aerial view of a water treatment facility. Image by Ian on Unsplash
New polling by We Own It has found that a majority (54%) of Thames Water customers want water regulator Ofwat to reject a controversial deal proposed by Thames Water’s creditors. More than two thirds of customers want the company to be nationalised.
Creditor deal proposes debt write-off with delayed compliance
The controversial creditor deal would involve writing off around 25% of the water company’s nearly £20 billion in debt. However, the creditors have also suggested that a ‘full return to legal, regulatory and environmental compliance’ would not take place until at least 2035-2040 should the deal go ahead.
Meanwhile, customers’ water bills have increased by a third and Ofwat handed the company a record fine of £122.7 million in May 2025, related to sewage spills and shareholder payouts.
Strong public support for nationalisation and stakeholder governance
The polling of over 1,000 Thames Water customers, commissioned by We Own It and carried out by Survation, revealed more than two thirds (68%) of Thames Water customers believe Thames Water should be nationalised and run in the public sector. Customers were strongly in favour of a Thames Water Board which includes environmental groups (66% in favour), households (77% in favour), and Thames Water employees (64% in favour).
Calls for special administration
Sophie Conquest, lead campaigner at anti-privatisation group We Own It, said the research provided proof that customers wanted Thames Water run in the public sector. James Wallace, CEO of River Action, echoed this sentiment: “It is time for Thames Water, in its current form, to be put out of its misery. The government must place the company into special administration and ensure it is owned and run for public benefit, not for private gain.”
However, Thames Water CEO Chris Weston said in December that he thought a “market-led solution” would be the preferred option, and the government has thus far been keen to avoid placing Thames Water into special administration, with court battles ongoing over the potential nationalisation of the utility company.