It is unlikely that the company’s owners will invest more or it will be fully nationalised, but its structure needs a rethink
Set your watches: Ofwat, the water regulator, has fixed the date for when it will publish its so-called “draft determination” – in other words, its first view on how far each water and wastewater company should be allowed to raise its bills in the five-year period that starts next spring.
Wednesday 12 June is the day when the outside world will be able to look at the assessment that caused the current owners of Thames to say a fortnight ago that Ofwat had made their company “uninvestable” and they wouldn’t be putting in another penny. Thames’s murky future may become slightly less murky at that point.
