Public's health and dignity got flushed by Thames Water

A HIGH Court judge approved plans this week to restructure Thames Water with a loan of up to £3billion - just weeks before the struggling firm was to run out of money.

- Esther Krakue

In return, it wants to bring in higher bills to fund its future investments and survival.

Thames Water is requesting an eye-watering 53% increase in bills by 2030, far exceeding the 35% rise allowed by weak-willed regulator Ofwat. This would mean an additional £151 per year for customers already grappling with sub-par service.

The audacity of utility companies demanding more money from the very residents they have failed is staggering.

The larger question, however, is whether we will ever stop rewarding corporate mismanagement. For years, Thames Water appears to have prioritised shareholder dividends over a reliable service - and it is time for the Government to let it face the consequences.

Whitehall has been preparing for a potential renationalisation of Thames Water. A plan codenamed Project Timber would transfer most of its £15.6billion debt to the public purse, with lenders to Thames Water's core operating company facing losses of up to 40%.

There is precedent for renationalising public assets in this way. If Thames Water were taken into public ownership, a new arms-length public corporation would be established to manage the utility, similar to the company that delivered the £18.8billion Crossrail project.