Thames Water boss says leakage targets 'not realistic'
Summary
The head of Thames Water said the company’s targets to reduce leaks and pollution are not realistic to meet. Thames Water faces criticism and fines for pollution and is debating whether it should be put under temporary government control or accept a rescue plan from its lenders.Key Facts
- Thames Water is the UK’s largest water company, serving 16 million customers.
- The company was fined a record £122.7 million last year for breaking sewage pollution rules.
- Thames Water processes 4.3 billion litres of wastewater daily and treats it successfully 99.5% of the time.
- The company struggles to meet tight targets on water leakage and pollution set by regulators.
- Thames Water is deep in debt and could be placed under a special administration regime, a form of temporary government control.
- The company’s boss warns that special administration might cost taxpayers more and disrupt investment.
- Thames Water’s creditors have proposed a plan to write off about £9 billion of debt to help the company.
- Environmental groups and the regulator expect Thames Water to meet legal pollution standards and reduce leaks.
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