UK’s largest water company also calls for dividend payouts and lower fines for breaches to avoid taxpayer bailout
Thames Water has been lobbying the government and regulators to let it increase bills by 40%, pay lower fines for breaches and keep paying out dividends as part of efforts to avert a taxpayer bailout, according to a report.
The UK’s largest water company was trying to strike a deal with the watchdog Ofwat that would give it permission to charge customers more to avoid having to be taken over by court-appointed special administrators, the Financial Times reported.
That plan would give Thames Water permission to increase bills by 40% by 2030, while also offering more leniency around regulator fines and rules around the dividends it can pay to shareholders.
It comes as the company, which serves more than 15m households, attempts to deal with a debt pile of £14bn and widespread criticism over sewage dumping.
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