South East Water warns it may not survive past July 2027

South East Water's annual report, published 17 July 2026, flags "material uncertainty" over its survival. The utility — supplying 2.4 million customers across southern England — has funds only through July 2027 and needs uncommitted new loans. Losses widened to £33 million despite a 7% bill hike. Moody's downgraded it to junk. Lender talks are "advanced" but not legally binding.