• Swindon & Wiltshire News
• Monday July 10 2023
• Author Name: Peter Davison

Thames Water secures £750 million cash injection from shareholders

Thames Water has secured £750 million from its shareholders as it fights to fight off nationalisation.

The news came in an announcement to the London Stock Exchange today (Monday). The company said it aims to raise a further £2.5 billion between 2025 and 2030.

Thames Water’s future came under the spotlight in June when its chief executive Sarah Bentley unexpectedly stepped down after just two years in the role.

There was speculation that the Reading-headquartered utilities giant – which serves 15 million customers in Swindon & Wiltshire, Berkshire, Oxfordshire, Gloucestershire, and in London – could be taken into temporary nationalisation if it could not service its £14 billion debts.

In annual results published today, the firm reported an underlying pre-tax loss of £82.6m for the year to 31 March.