UK’s Burnham drops Thames Water administration plan, The Times reports

InternationalUK's Burnham drops Thames Water administration plan, The Times reportsBy Reuters -Aug 25, 2026Add ARY News on GoogleImage Credit: ReutersAAResizeLONDON: British Prime Minister Andy Burnham has shelved plans to put struggling utility Thames Water into administration ​amid concerns about the cost and the legal risk involved, ‌the Times reported on Monday. Burnham has repeatedly said public ownership is the best solution for Britain’s largest water supplier, which has been fighting for survival ​for years as successive owners failed to invest adequately in ​its ageing infrastructure. If the government takes Thames Water into its ⁠Special Administration Regime — a form of temporary public ownership — taxpayers ​would need to pump in about £2 billion ($2.73 billion) to keep the utility ​going for the next 18 months, Thames Water’s management has said previously. Officials raised concerns about the risk to taxpayers, the potential for legal challenges and the ​practical barriers to putting Thames Water into administration, the Times ​said. The government is evaluating whether there is a viable option to put the company ‌into ⁠administration, but it is likely to take several months, the report added. The government declined a Reuters request for comment, while Thames Water did not immediately respond outside business hours. The report comes after senior ​creditors of Thames ​Water, which is ⁠saddled with about £20 billion in debt, on Monday named the first group of proposed directors to oversee a ​decade-long overhaul of Thames Water if its rescue ​plan is ⁠approved. The senior creditor consortium, known as London & Valley Water, in July proposed a revised rescue plan that includes a 10-year transformation programme and ⁠a ​possible “golden share” for the government in an ​effort to avoid the company being taken into public ownership under Burnham’s government. .post__content img.alignleft { float: left; mar...