Thames Water plans to raise bills by 59%

UK water companies are in the process of updating the regulator with their business plans, with a final determination due in December. — Bloomberg

LONDON: Thames Water Utilities Ltd says it will have to raise bills by as much as 59% by the end of the decade, as the heavily indebted utility races to attract investors to stay afloat.

The UK’s biggest water and sewage-services provider also determined that cuts proposed by its regulator will stop it from raising much needed equity, according to a revised five-year business plan released on Wednesday.