UK Government formally challenges Thames Water's creditor-led rescue plan in letter to Ofwat
By
Daniel Ware
20d ago· 2 min readenNews
Summary
The UK Government, through Water Minister Emma Hardy's letter to Ofwat, has formally expressed concerns over Thames Water's proposed creditor-led recapitalisation plan. The letter, published by Defra, reveals ministerial unease about the rescue package and indicates that regulatory approval is not guaranteed. Key elements of the plan have been formally challenged by ministers, increasing pressure on the struggling water utility.
Source
bskyUK Government formally challenges Thames Water's creditor-led rescue plan in letter to Ofwatwatermagazine.co.ukKey quotes
· 3 pulledThe letter provides the clearest indication yet of why ministers remain uneasy about the rescue package and why regulatory approval is far from guaranteed.
The letter, now publicly available after days of speculation, confirms that ministers have formally challenged key elements of the rescue package being advanced by Thames Water and its creditors.
The letter intensifying pressure on bot
Defra publishes Emma Hardy’s letter to Ofwat setting out the UK Government’s concerns over Thames Water’s proposed creditor-led recapitalisation.
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