Thames Water Faces Financial Crisis as Court Considers Restructuring Plan

England's largest water company risks running out of money by March, with proposed plans to inject £3 billion facing criticism and opposition.

Thames Water, serving 16 million customers, is on the brink of financial collapse with £16 billion in debt and insufficient funds to operate beyond March 24, 2025.
A proposed restructuring plan backed by major creditors would inject up to £3 billion to keep operations running until 2026, but critics argue it is a temporary fix with unsustainable terms.
Opponents, including MP Charlie Maynard and a smaller group of creditors, advocate for alternative solutions or administration, citing public and customer interest concerns.
The proposed plan includes £1.5 billion in immediate funding at a 9.75% interest rate, with an additional £1.5 billion potentially available, but critics highlight its high costs and limited long-term viability.
The High Court is hearing arguments this week, with a decision expected in writing at a later date, while contingency plans for potential special administration are being prepared.