Tag #Regulatory Appeal

What are the immediate implications of Thames Water's appeal to raise customer bills beyond the already approved 35% increase?

Thames Water, serving 16 million customers, seeks to increase bills beyond the 35% already approved by Ofwat, aiming for a higher percentage increase between 2025 and 2030 to fund necessary infrastructure improvements and address financial instability. This appeal to the CMA follows Ofwat's approval of a 35% bill increase, deemed insufficient by Thames Water for necessary investments. The company asserts that this additional funding is crucial for upgrading services and mitigating climate change impacts.