The UK Government is reportedly considering nationalising Thames Water, Britain’s largest water company, potentially transferring most of its £15 billion debt to the public.
Details obtained by the Guardian reveal that under a Whitehall blueprint, lenders could incur losses of up to 40% of their investments.
Originally debt-free in 1989, Thames Water’s financial situation has evolved, prompting the need for a new management structure.
If implemented, Thames Water would become a publicly owned entity, akin to projects like Crossrail.
However, this move poses challenges and debates regarding public sector involvement in essential services.
A Defra spokesperson told Energy Live News: “As a responsible government, we prepare for a range of scenarios across our regulated industries – including water – as the public would expect.”
Ofwat and Thames Water declined to comment.
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