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Reeves Favours 'Market-Based Solution' to Thames Water Saga
The Guardian
|September 02, 2025
Rachel Reeves has told investors she would like to see a "market-based solution" for problems at Thames Water, rather than placing the company into special administration.
The chancellor sent a letter in July to the Thames Water creditor group, which represents about 100 financial institutions that are trying to create a rescue plan for the company.
Reeves sent the letter after comments from the environment secretary, Steve Reed, in June. He told MPs the government had "stepped up our preparations and stand ready for all eventualities...including [a] special administration regime if that were to become necessary".
The remarks are reported to have caused concern among some debt holders in the water industry, as such steps would involve a temporary form of nationalisation, leading to the restructuring of its £17.7bn net debt and the possible sale of the company to new owners.
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