Thames Water creditors offer £1bn 'sweetener' in rescue deal
Monday, 1 September 2025 () Thames Water’s largest group of creditors is to offer an additional £1bn-plus sweetener in a bid to persuade Ofwat and the government to pursue a rescue deal with them that would head off the nationalisation of Britain's biggest water utility.
Sir Ed Davey has called for the temporary nationalisation of Thames Water as he reacted to the latest figures in the ongoing sewage crisis. Mr Davey also criticised the government's handling of the situation, saying Labour needs to "get its act together". It comes as a watchdog has revealed the number of serious water pollution incidents increased by 60 per cent last year.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The water industry watchdog is probing payments to the bosses of a string of suppliers following the revelation that Yorkshire Water's offshore parent company.. Sky News
Environment Secretary Steve Reed has confirmed that water regulator Ofwat will be abolished as part of an overhaul of a “broken” regulatory system. Mr Reed pledged to strengthen regulation, clean up the country’s rivers and protect the public from soaring water bills. The Environment Secretary said: "A single, powerful regulator responsible for the entire water sector will stand firmly on the side of customers, investors and the environment and prevent the abuses of the past''. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Environment Secretary Steve Reed says the water regulator Ofwat has “clearly failed everybody,” citing record pollution levels and rising bills. Reed said the government is committed to halving sewage discharges into England and Wales’ waterways by 2030. He called for “a revolution in our water sector” and said a report from Sir John Cunliffe will guide urgent regulatory reform. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Monday, 1 September 2025 ()
Thames Water’s largest group of creditors is to offer an additional £1bn-plus sweetener in a bid to persuade Ofwat and the government to pursue a rescue deal with them that would head off the nationalisation of Britain's biggest water utility.
![Davey calls for temporary nationalisation of Thames Water [Video]](https://video.newsserve.net/300/v/20250718/1416929482-Davey-calls-for-temporary-nationalisation-of-Thames-Water.jpg)
![Government to abolish Ofwat [Video]](https://video.newsserve.net/300/v/20250721/1417152918-Government-to-abolish-Ofwat.jpg)
![Ofwat "failed everybody", says Environment Secretary [Video]](https://video.newsserve.net/300/v/20250720/1417088318-Ofwat-failed-everybody-says-Environment-Secretary.jpg)
