Thames Water Buys Time Until Year-End as Nationalisation Looms

Thames Water, serving 16 million customers across London and south England, says it has sufficient funding through December 2026. Yet net debt climbed to £18.5bn from £16.8bn in a single year. The company is negotiating a recapitalisation plan with creditors and regulators to avoid state takeover. Environment Secretary Emma Reynolds rejected a £10bn investor rescue package. Incoming PM Andy Burnham has signalled preference for public ownership, complicating any private rescue deal.