Thames Water says it has secured a dedication for a further £750m funding by shareholders, because the debt-laden firm races to keep away from the potential of being positioned in momentary public possession.

The nation's largest provider used the publication of delayed annual accounts to announce additional progress in its bid to lift money to shore up its funds.

The water regulator advised a committee of friends final week that Thames was on the lookout for £1.5bn however can be more likely to want extra.

Sky News revealed final month how the federal government was drawing up contingency plans for the company's collapse amid rising doubts about its means to service a £14bn debt pile.

Thames Water has been locked in efforts to shore up its funds over current months by tapping shareholders for extra cash.

It was understood on Saturday {that a} commitment to provide new equity had been secured from numerous traders, although the response to the plea for extra cash was non-binding.

The request for recent cash, by way of an fairness help letter, was believed to have been demanded by auditors as a situation of signing off the corporate's accounts on a going concern foundation.

Thames is dashing to keep away from the potential of being positioned right into a particular administration regime that might successfully take the corporate into momentary public possession - as occurred to vitality supplier Bulb in 2021.

Amid criticism of previous dividend flows, its monetary place has been worsened by rising rates of interest to which many debt repayments are linked.

It is an industry-wide downside.

At the identical time, companies are beneath strain to bolster service efficiency following years of weak funding in infrastructure that has led to widespread anger over leaks and sewage dumps into rivers and the ocean.

On Friday, Southern Water revealed it could not be paying dividends till no less than 2025 following an additional credit standing downgrade.