Thames Water has announced that its shareholders have agreed to provide an additional £750 million in funding.
This cash injection is seen as a significant milestone for the company as it aims to improve its operational performance and financial resilience.
However, Thames Water has also warned that a much larger amount of funding, around £2.5 billion, will be needed by 2030 to support its turnaround efforts and future growth plans.
The water supplier currently faces a significant debt burden of £14 billion, making additional funding essential for its long-term sustainability.
Ian Marchant, Chairman of Thames Water, said: “The additional investment announced today is the largest equity support package ever seen in the UK water sector and underscores our shareholders’ commitment to delivering Thames’ turnaround and life’s essential service for the benefit of our customers, communities and the environment.”
