THAMES WATER ATTRACTS SEVERAL BIDS – The company is currently said to have nearly £18 billion in debt
Thames Water has attracted several bids amid warnings that it may run out of cash by next year.
Castle Water, a Scottish utility company partly owned by Conservative Party treasurer Graham Edwards, has reportedly submitted an offer ahead of the investor deadline on Thursday, 5 December. Infrastructure investor Covalis, backed by French firm Suez, is also said to have entered the bidding, with a proposal that could potentially lead to the break-up of the heavily indebted water giant.
As the UK’s largest water provider, Thames Water serves one in four people nationwide. However, the company is burdened with nearly £18 billion in debt, a figure expected to rise by March next year.
Customers are already bracing for significant increases in water bills. In July, Thames proposed a 23% rise in annual bills between 2025 and 2030. Since then, the company has revised its request, seeking an even steeper 53% hike.
It is believed that up to six parties are interested in acquiring a stake in Thames Water. Any deal would depend on the company’s current investors agreeing on how much of the debt they are willing to write off and clarifying the extent to which household bills can be raised.
