Last summer, shareholders abandoned plans to inject the first £500m of capital into troubled utility Thames Water because industry regulations made its business plan “non-investable”.
Thames Water is the UK’s largest water supplier, serving 15 million homes in London and the South East. The company said the funding plan set out in July last year was subject to conditions, including a business plan supported by “appropriate regulatory arrangements”.
The company has been fighting to secure its future since last summer, with a financing crisis bringing the heavily indebted company to the brink of emergency nationalization.
Chris Weston, chief executive of Thames Water, said: “I would like to reassure our customers that, despite this announcement, it is business as usual at Thames Water.
“Our 8,000 employees remain committed to working with partners in our supply chain to deliver services that benefit our customers, communities and the environment.”
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