Thames Water Proposes 59% Bill Increase by 2030

Thames Water has proposed a significant increase in customer bills, suggesting a rise of up to 59% by 2030, to address its financial difficulties and improve infrastructure. The company's plan, which aims to raise average annual bills to £666.50, comes after Ofwat, the water regulator, limited potential increases to 23%, which Thames Water argues is insufficient for attracting necessary investments. CEO Chris Weston emphasized that the proposed hikes stem from years of underfunding and are essential for a turnaround in service quality and environmental performance. Criticism has arisen over Thames Water's past dividend payments while struggling with over £15 billion in debt. The utility's plans include investing £20.7 billion in infrastructure improvements, but regulators and unions are questioning the justification for raising customer bills further. Ofwat's final decision on the proposed increases will be made public on December 19.