Prime Minister Andy Burnham has asked advisers to “rip up” current plans to fix Thames Water and suggest “more radical options”, according to a report in The Guardian yesterday evening.

Thames Water has announced that it has entered into a transaction support agreement (Class B TSA) with certain Class A creditors and certain Class B creditors, including an ad hoc group of Class B Creditors. 

Thames Water is seeking a further £2.4 billion in funding to enable it to continue delivery of its AMP8 capital programme, increasing the £3 billion currently available to it under the super senior facility entered into with its subsidiary, Thames Water Super Senior Issuer PLC to £5.4 billion.

Thames Water Utilities Ltd and its subsidiary, Thames Water Super Senior Issuer PLC have launched a fifteenth set of consent requests seeking access to £170 million in further funding in October.

The House of Commons EFRA Committee has published a report on the future of Thames Water which calls on Ofwat and the government to withdraw from negotiating with the L&VW consortium and urges the government to either put the company into Special Administration or to consider emergency legislation that takes control of its financial affairs before more appropriate owners can be found.

Widespread news reports in the press and online media during the course of last week, over the weekend and today are suggesting that if Andy Burnham, who will shortly be appointed as the UK’s new prime minister, moves to nationalise Thames Water, the creditors will launch a legal challenge.

Thames Water yesterday launched the process to gain access to further funding under the Facility it first entered into in 2025 with its subsidiary, Thames Water Super Senior Issuer plc. when an initial £1.5 billion was made available under the Facility. On Wednesday the water company published its latest annual results for the year to 31 March 2026 showing a return to profit and sufficient funding secured through to Q4 2026.

Following the launch on 29 June 2026 of its Twelfth Consent Requests, Thames Water has announced that the requests have been approved - enabling the company to gain access to a further £213.49 million this month.

Iain Coucher, Ofwat Chairman has written to Emma Reynolds MP Secretary of State for Environment, Food and Rural Affairs saying the economic regulator shares the concerns expressed by the Minister in her letter of 16 June 2026 regarding the London and Valley Water Consortium’s proposal for the recapitalisation and turnaround of Thames Water.

Thames Water came in for swingeing criticism from MPs in Parliament in response to Emma Reynolds, Secretary of State for Environment, Food and Rural Affairs, ministerial statement to the House of Commons yesterday.