‘A National Scandal’: High Court greenlights Thames Water’s £3bn bailout amid financial and environmental ruin

Responding to the High Court’s decision to approve Thames Water’s £3bn rescue plan— in a legal case in which neither DEFRA nor OFWAT opted to participate —River Action chair and founder Charles Watson said:

“This national scandal is a disaster for Thames Water bill payers and the environment. Instead of recognising now is the time for a special administration of Thames Water, the decision saddles customers with the responsibility for funding billions of junk-rated debt while its executives, investors and shareholders escape responsibility. Customers will now bear the brunt of massive interest payments through higher water bills, paying for corporate failure while our rivers remain choked with sewage.”

“We are extremely surprised that neither the Government nor the water regulator, Ofwat, chose to give evidence in court to support the public interest—leaving it instead to Charlie Maynard MP and campaigners Windrush Against Sewage Pollution to represent us.

“The Government cannot stand by and allow this reckless bailout to continue. It must step in, take back control of Thames Water, and put an end to years of environmental destruction and financial mismanagement – ahead of the even more expensive restructuring that Thames Water has planned.”

“The public’s outrage, as seen at the recent March for Clean Water, makes it clear—people have had enough. The Government must not only take back control of Thames Water but also pass the strongest possible Water Bill to ensure polluters pay and our rivers are properly safeguarded. The Government must recognise that clean rivers and healthy communities aren’t a barrier to economic growth—they enable it.”