UK’s Ofwat board split over approval for Thames Water rescue deal

InternationalUK's Ofwat board split over approval for Thames Water rescue dealBy Reuters -Apr 14, 2026The board of UK water regulator ​Ofwat is split over whether to approve ‌a rescue deal offered by the creditors of Thames Water, Bloomberg News reported on Tuesday, citing a person ​familiar with the matter. The water regulator’s board ​has so far failed to reach a consensus ⁠on the deal floated by senior creditors ​to save UK’s largest water supplier, the report said. Read Also: Lenders offer over $4.4 billion equity injection to rescue Thames Water Thames ​Water, which is at the centre of a , could be nationalised if regulators fail to agree ​a deal with the group of senior creditors, ​which includes Invesco, Elliott Management and Silver Point Capital. The creditor ‌group, ⁠called London & Valley Water, made a new offer to rescue water supply company in March, which included 3.35 billion pounds ($4.54 billion) of new equity and up ​to 6.55 billion ​pounds of ⁠new debt. An Ofwat spokesperson told Reuters it is continuing to engage with ​London & Valley Water and reviewing their plans ​carefully ⁠to assess whether they deliver a turnaround in Thames Water’s operational performance and strengthen its financial ⁠resilience. Thames Water ​did not immediately respond to ​a Reuters request for comment.