Thames Water, the UK's largest water company, has asked creditors for an additional £2.4bn to prevent insolvency by the end of 2026 or early 2027, according to the company's statement on Thursday.
The cash injection would be short-term financing to keep operations running while the company negotiates a longer-term refinancing deal to address its substantial debt. Thames Water told creditors it cannot survive long enough to complete that refinancing without the immediate funds.
The request marks an escalation of the company's financial distress. Thames Water has faced mounting pressures from aging infrastructure, strict environmental regulations, and rising costs. The company serves around 15 million people across London and the southeast of England.
Creditors now face a choice between approving the emergency funding or risking the collapse of critical water infrastructure serving millions of households and businesses. The timing creates political pressure on UK regulators and government officials to resolve the situation before potential service disruptions.