Thames Water on the brink of collapse sends warning of Three Waters debt risk

The English water utility uses the same highly leveraged financing structure as proposed for Three Waters. Crippled by £14 billion of debt it now faces imminent insolvency or renationalisation.

Yesterday news broke that the UK’s biggest water supplier, Thames Water, is on the brink of financial collapse under the weight of £14 billion of debt. The utility provides water to 15 million people in London and the South East.

The water company has struggled under a mountain of debt for many years which has crippled its ability to upgrade its infrast…