London & Valley Water submits ambitious plan to transform Thames Water for customers and the environment, and deliver long-term financial resilience

Contributing sentiments towards policy:

70% : The new Board would have the requisite experience and expertise needed to help transform the business, with experience spanning UK regulated water, delivery of large capital projects, business transformation, capital markets, economic regulation and public policy.
54% : The Company will also need to allow its other creditors reasonable time to consider the Plan and will facilitate discussions with other stakeholders and creditors (including swap counterparties) on an overall holistic recapitalisation before commencing court proceedings for the implementation of the Plan through a restructuring plan under Part 26A of the Companies Act 2006 (or a Part 26 scheme of arrangement if feasible).
52% : This recapitalisation, along with the proposed Performance Improvement and Turnaround Plan (the "PITP") and improvement accountability framework (the "IAF"), will provide the foundation to allow for a return to an investment grade credit rating.3 The Plan represents a c. £1 billion increase in investment relative to the prior proposal which was submitted by London & Valley Water to Ofwat in May 2025.
50% : * Given historical underinvestment and operational constraints, Thames Water has a significant existing and growing environmental compliance gap, including but not limited in relation to Flow to Full Treatment (FFT), Dry Day Spills (DDS), Dry Weather Flow (DWF), storm overflows and storm tank capacity, as well as permit non-numerical standards, and increasingly strict final effluent levels, across both its water and wastewater business.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.