Thames water set to hike your water bills by 44% as it battles to survive under billions of pounds of debt

Thames Water is looking to raise Londoners’ water bills to as much as £627 a year amid fears over the company’s financial stability. The group, which is battling to survive amid a funding crisis, has proposed increasing spending by £1.1 billion between 2025 and 2030.The company is struggling under a huge £15bn of debt, leading to speculation it could be taken over by the government.

"Thames Water has had to rethink its business plan in a bid to stave off collapse as it crumbles under the weight of £15 billion of debt.Its investors have refused to pump in the cash needed to plug a funding gap and reports suggest the Government is working on plans to effectively nationalise the water giant.This would see the taxpayer foot the bill for its mammoth debts.Thames Water originally wanted to raise customer bills by 40% to fund an investment programme worth £18.

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