Member

Thames Water is a commercial entity currently engaged in an equity raise, and KKR pulled out of that process earlier today. As Thames Water has said, the company will continue to work with its creditors as part of the equity raise to improve its financial position. There remains a market-led solution on the table, and we expect the company and its directors to continue the process that is under way and fix the financial resilience of the company in the interests of its customers. I want to be clear that the Government are prepared for all eventualities across our regulated industries and stand ready to intervene through the use of a special administration regime, should this be required to ensure the continued provision of vital public services.