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Thames Water £17bn in debt and needing 10-year turnaround
Daily Express
|July 16, 2025
THAMES Water has revealed it is nearly £17billion in debt less than 24 hours after announcing a hosepipe ban hitting 1.1 million people.
The under-fire utility firm warned it will take a decade to turn around as it slumped to a £1.65bn annual pretax loss, from profits of £157million the previous year.
It also booked a £1.27bn bad debt provision on intercompany loans and set aside £122m for fines from Ofwat, among other costs.
Its full-year results showed its net debt swelled by another £1.65bn, while it revealed a “disappointing” performance on pollution and sewage spills.
The figures come as the water firm remains in talks over a rescue funding deal after private equity firm KKR last month pulled out of plans to inject cash.
Stressed
This story is from the July 16, 2025 edition of Daily Express.
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