Thames Water Debt Climbs 9.2% With New Equity Raise Needed

Thames Water Utilities Ltd saw its net debt increase 9.2% in the year ending April 2024, a sign of a worsening outlook for the beleaguered utility.

The UK’s largest supplier of water and sewage services urgently needs to secure new sources of cash to underpin its balance sheet. For now, its debt pile keeps swelling, a factor that’s likely to concern the newly anointed government.

It’s not yet clear how Labour plans to secure Thames Water. The party has promised to take a tough line on failing water companies, including bringing them into “special measures”. But this week Prime Minister ...