Thames Water: Customers will not pay more if firm collapses

Published

5 minutes ago

Customers will not be made to cover the cost if Thames Water goes bust, the boss of regulator Ofwat has said.

David Black also told the BBC the firm had "some time" to raise the funds it needs to fix it finances.

Thames is billions of debt and could, in a worst case scenario, be taken over by the government if it cannot turn things around.

Mr Black denied Ofwat had failed to monitor the firm, but admitted there were "hard lessons to learn".

He added that excessive payouts for chief executives in the water industry had "angered" him.

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