Thames Water Has Two Months to Agree Survival Plan

Water sector regulator Ofwat will determine in two months whether the financially struggling Thames Water succeeds in securing the required investment to stay afloat. The clock is ticking for the UK’s largest water utility company to turn around its financial standing before the June 12 deadline, set by Ofwat. “We will set out our draft determinations in June this year,” said an Ofwat spokesperson. The troubled water utility firm has defaulted on some of its debts, after its parent company, Kemble Water Holdings Ltd., had pulled £500 million in interest payments, due at the end of April. Failure to pay interest on the debt has heightened the concerns of Thames Water’s survival....