Crisis-hit Thames Water has launched a bid to charge its customers more over the next five years than the industry regulator will allow, arguing it has been unfairly treated.
Britain’s biggest household supplier, which is in a battle for survival as it grapples a £19bn debt pile, had sought a 53% hike to bills from 2025-30.
That demand was rejected in December by the industry regulator Ofwat, which settled on a 35% rise as part of a price determination for all suppliers across England and Wales.
The level of the inflation-busting increases granted to many firms are designed to unlock record investment in infrastructure, including sewage outflows, amid widespread outrage over pollution.
Thames is also under intense pressure to rake in all it can get because of the perilous state of its finances.
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Thames, and other suppliers, have until next week to launch an appeal process with the Competition and Markets Authority (CMA).
It is understood the company’s customer bills will rise, from April, in line with Ofwat’s curbs until the appeals process is completed.
That is expected to take months.
It means the average annual bill for its 16 million households will rise to £639, according to industry data.
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Thames said in a statement: “The Board of the UK’s largest water and wastewater services company made this unanimous decision after…
