Thames Water Utilities Limited PR24 Final Determination

RNS Number : 7370Q

Thames Water Utilities Limited

19 December 2024

 

Thames Water Utilities Limited

19 December 2024

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Thames Water receives its Final Determination for the regulatory period 2025 to 2030

Thames Water Utilities Limited (the "Company") has today received its Final Determination from its economic regulator, Ofwat, for the regulatory period running from 1 April 2025 to 31 March 2030.

The deliverability and investibility of Thames Water's Final Determination is critical to the Company's future and its ability to deliver improvements for customers and the environment.

Given its importance and complexity, Thames Water will take time to review the determination in detail before making its response. The Company will set out by early February the charges for customers that will apply from April 2025. These charges will reflect Ofwat's Final Determination, and Thames Water remains committed to supporting those customers who need help with their bills. 

Thames Water has previously announced a proposed transaction to extend its liquidity runway by up to £3.0 billion (the "Liquidity Extension Transaction"). The Board and leadership team remain focused on maintaining the stability of the business and increasing long-term financial resilience as well as on the delivery of its turnaround and the supply of essential services to 16 million customers across London, the Thames Valley and Home Counties.

Taking into account the proposed Liquidity Extension Transaction and the related STID Proposals, the Company's liquidity would be extended to October 2025, with the potential to extend further to May 2026 if the Company chooses to make an appeal to the CMA.

 

ENDS 

 

For further information

Investor enquiries

Frederick Maroudas - Director of Corporate Finance
[e-mail]

Media enquiries

Suvra Jans - Head of Media Relations
[e-mail]
M: 07747 640 810

 

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