LONDON (Reuters) – Britain’s struggling Thames Water has until June 12 to win approval for its plan to raise customers’ bills by 40% to address its 16 billion pound ($20 billion) debt pile, the nation’s water regulator Ofwat said on Monday.
Ofwat said in a statement June 12 was the provisional date for its so-called draft determinations on Thames Water’s plan.
Thames, the nation’s biggest water utility, has been engulfed in crisis and faces potential nationalisation after its shareholders last month refused to pay up to help stabilise its finances.
(Reporting by Sachin Ravikumar, Editing by Paul Sandle)
