In an article published in the Financial Times on 17 November, 2024 in which experts warn that the mooted £3billion loan will hit customers and drain the troubled utility’s resources, Tim Whittaker, Research Director at EDHEC Infra & Private Assets, commented that:

“the loan when fully drawn would add nearly £300mn of annual interest expense and have a “significant impact on its 16mn customer bills”.”

“This will have a clear impact on customers as paying the higher interest on debt will hurt Thames’ ability to invest in its business and siphon resources from the company to the lenders”. 

“the new loan from the higher ranking “class A” bondholders would give them greater control over the company and put them “at the head of the queue if Thames does enter special administration“.”

Read the full coverage here.

Read our paper “Low Tide: What the Data Showed About Thames Water” here.