Mr Toby Perkins

Mr Toby Perkins

Labour — Chesterfield

Speaking in the House of Commons on 16 June 2026

Debate

Thames Water

Contribution

Thames Water customers are paying the price for the incompetent regulation that allowed Macquarie to saddle the company with eye-watering debts at the same time as its environmental performance was so disgraceful. That debt ultimately led to shareholders writing the equity value down to zero. Those who bought the debt are now making this proposal. I entirely understand why the Secretary of State would not want customers to receive a service that was failing in its environmental responsibilities while they paid higher bills, but what assessment has she made as to whether Thames Water is a viable business? We have been told that this is the final offer from the company. Is there a viable business there that will deliver long-term investment within a reasonable cost window for billpayers? If there is not, at what point does public administration become inevitable?

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