Thames Water's Debt Deal: Fines for Upgrades

On April 2nd, Tim's waters on the verge of a deal with his regulator of what, to dodge

new fines for four years, as long as they pour cash into fixing.

Their mess.

Creditors are pushing hard for this, hoping to keep the utility from getting temporarily

nationalized after years of financial drama, including a failed sale last year when bitter

KKR bailed at the last second.

The company's drowning in over 17 billion pounds of debt from decades post-privatization,

and folks are fuming because customers face bill.

Hikes of more than a third by 2030, even before inflation kicks in.

This setup, called undertakings, swaps penalties for commitments on leaks and pollution, but

it only covers of what fines other agencies could still hit.

Then, in a three-month public consultation looms with cash running low by October, creditors

promise all old fines get paid with tougher targets ahead, while TEMS says they're already

dropping 1.26 billion pounds into.

Upgrades this year to cut leaks and boost water quality, eyes on a market fix for customers

and the planet.