Thames Water wants to bring bills up to at least £608 a year by 2030 - and possibly even higher.
The UK's biggest water company has put forward an investment offer that could increase customer bills even more than the 40% rise it already requested. Thames Water, which serves 16 million customers in the south of England, has proposed increasing spending by £1.1bn and revealed another potential £1.9bn investment in its network as part of new business plans to regulator Ofwat.
What's going on at Thames Water? Thames Water has had to rethink its business plan as it faces collapse under the weight of £15bn of debt. Investors have refused to pump a previously agreed £500m into the business, leading its parent company to default on some of its debt. Thames Water has blamed Ofwat for this, saying it had imposed regulations that made it 'uninvestable'.
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