Authorities ‘ready for vary of eventualities’ amid fears of Thames Water collapse

The authorities mentioned it’s ready for a spread of eventualities amid fears Britain’s greatest water firm might collapse.

Sky News has learnt that ministers and Ofwat, the business regulator, have began to carry discussions about the opportunity of putting indebted Thames Water into non permanent public possession.

Contingency plans are being drawn up amid rising doubts in Whitehall in regards to the means of the agency to service its £14bn debt pile up.

“This is a matter for the company and its shareholders,” a authorities spokesperson mentioned on Wednesday.

“We prepare for a range of scenarios across our regulated industries – including water – as any responsible government
would.”

They added: “The sector as a whole is financially resilient. Ofwat continues to monitor the financial position of all the key water and wastewater companies.”

Thames Water serves 15 million clients throughout London and the southeast of England, and has come beneath intense stress lately due to its poor file on leaks, sewage contamination, govt pay and shareholder dividends.