London Daily

Focus on the big picture.
Sunday, Aug 24, 2025

Thames Water weighs further cash call weeks after tapping investors for £1.5bn

Thames Water weighs further cash call weeks after tapping investors for £1.5bn

The UK’s biggest water company – which last month banned 10m customers from using hosepipes, has begun exploring plans to raise further capital as it battles increasingly intense political criticism.
Britain’s biggest water utility is working on plans to raise additional funding just weeks after unveiling plans to tap shareholders for £1.5bn in new equity.

Sky News has learnt that Thames Water has begun debating whether it needs to seek new capital to deliver the transformation plan it has set out under Sarah Bentley, its relatively new chief executive.

Water industry sources said this weekend that firm plans had yet to be determined, but said that Thames Water could decide to raise hundreds of millions of pounds beyond the £1.5bn figure outlined in June.

The company, which last month introduced a hosepipe ban affecting 10m customers across southern England, has come under substantial fire for its dire performance in relation to leaks and multimillion pound executive pay packages.

A Thames Water spokesperson said: "Like all businesses, Thames Water actively manages its financial position.

"This year, we have successfully raised additional equity from our supportive shareholders and have refinanced maturing debt in order to put us in the best possible position as we continue to execute against the eight year turnaround plan that we launched in May 2021.

"As we look forward to the next regulatory period, and consider the evolving expectations of the regulator and the effects of a changing climate, we keep a range of opportunities under consideration to ensure that we can optimise delivery for customers today and over the long term."

The £1.5bn of new equity was divided into £500m in the current financial year, followed by a further £1bn before March 2025, when the current industry regulatory period ends.

In its June statement, the company added: "Thames Water shareholders acknowledge that further shareholder support may be required to improve financial resilience."

The additional shareholder funding formed part of a £2bn expenditure increase designed to improve the company's performance on leaks and river health, taking its total spending during the current five-year regulatory period to £11.6bn.

Thames Water's shareholders include China Investment Corporation, the country's sovereign wealth fund; the Universities Superannuation Scheme, the UK's biggest private pension fund; and Infinity Investments, a subsidiary of the Abu Dhabi Investment Authority, are said to have endorsed the plans.

Serving roughly a quarter of Britain's population, Thames Water has seen its reputation battered by revelations about its cavalier approach to pollution and indifferent treatment of customers.

A year ago, it was fined £4m for allowing untreated sewage to escape from London sewers into a nearby river and park, while in August 2021, it was ordered to pay £11m for overcharging thousands of customers.

Ms Bentley, who joined as chief executive two years ago, has pledged to deliver better results for both customers and the environment at a time when Britain's privatised water companies are under pressure for paying substantial dividends.

In total, tens of billions of pounds have been handed to shareholders in water utilities across Britain since privatisation, stoking public and political anger given the industry's frequent mishaps.
Newsletter

Related Articles

0:00
0:00
Close
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
×