LONDON: Britain’s biggest water supplier Thames Water is set to announce a new chair, reports said today, a day after emergency talks over its future and as the regulator sought to allay concerns about its financial viability.
Seeking to calm worries of collapse, water regulator Ofwat said Thames Water needed to improve its financial resilience, but its £4.4 billion of cash reserves and committed funding provided “strong liquidity”. The financial resilience of some of the other unlisted water companies is also under scrutiny as, like Thames Water, they have amassed vast debts since privatisation.
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