Home Business News Thames Water could be taken over by the government

Thames Water could be taken over by the government

by LLB staff reporter
19th Apr 24 11:27 am

Reports are suggesting that the government are making preparations to take over debt ridden Thames Water.

Thames Water are in £15 million of debt which could be added to the public purse and a blueprint code named “Project Timber” is being prepared in Whitehall, the Guardian newspaper reports.

This could see the UK’s largest water company being nationalised which would see the water company being placed into special administration.

The water company which provides water for up to 16 million customers could be broken up into two separate companies, one providing services to London and then Thames Valley.

The Guardian reported that Ofwat and the government remain positive this will not happen.

The Department for Environment, Food and Rural Affairs (Defra) are preparing for a “range of scenarios.”

A Defra spokesperson said, “As a responsible Government, we prepare for a range of scenarios across our regulated industries – including water – as the public would expect.”

Liberal Democrat Treasury spokesperson and Richmond Park MP, Sarah Olney said, “Millions of households and taxpayers deserve to know Thames Water’s fate. This corporate clown show must end now.

“The secret plans must be published immediately. Thames Water should have been put into special administration long ago, but the Government is too weak to take on this disgraced polluter.”

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