Crisis-Hit Thames Water has launched an offer to invoice its customers more over the next five years than the industry regulator will not allow it, arguing that it has been treated unjustly.
The biggest British household supplier, who is in a battle for survival, because he faces a heap of debt of 19 billion pounds sterling, had asked for a 53% increase in invoices from 2025 to 30.
This request was rejected in December by the industry regulator ofwat, which paid an increase of 35% as part of a Price determination for all suppliers through England and Wales.
The level of the increase in inflation busity granted to many companies is designed to unlock record investments in infrastructure, including sewer outings, in the midst of general indignation concerning pollution.
The Thames is also subject to intense pressure to rattle in all that it can obtain because of the perilous state of its finances.
Money Dernited: The reimbursement of plane tickets of £ 202 that you probably did not know
The Thames and other suppliers have until next week to launch a call process with competition and authority markets (CMA).
It is understood that the invoices of the company’s customers will increase, from April, in accordance with the borders of Ofwat until the end of the call process.
It should take months.
This means that the average annual bill for its 16 million households will reach £ 639, according to industry data.
Please use Chrome Browser for a more accessible video player
Find out more:
Water bills in England and Wales should increase by £ 10 per month
Thames Water faces a investigation into delays in the environmental scheme
Octopus energy clashes over the fight over the Water Future Thames
The Thames said in a press release: “The board of directors of the largest water and wastewater service company in the United Kingdom made this unanimous decision after concluding that the final determination of the 2025 regulatory period At 2030 does not appropriately support the investment and improvement that is necessary for the Thames Water to deliver its customers, its communities and the environment for the next five years. »»
The company argued that Ofwat did not take into account the challenges in its field of operations, including London.
He also complained that the decision did not find the right balance between risk and yield.
He is in talks on a new investment, but is waiting to know if the high court approves a rescue agreement of 3 billion pounds sterling to ward off the possibility of collapsing.
Thames previously declared that he would lack money by the end of March.
The president, Sir Adrian Montague, added: “We have made the decision to refer our final determination to the Competition and Markets Authority in the interest of our customers and the environment.
“We focus on setting up the company on a long -term stable sole so that we can succeed in our recovery, and build and maintain an infrastructure that supports growth and can resist the effects of climate change.”