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The embattled Thames Water saw a 40% increase in pollution incidents in the first half of the year as its debts continued to swell.<\/p>\n
The UK’s biggest water firm reported 359 so-called category one to three pollution incidents in the six months to 30 September, which it said was due to a wet spring and summer.<\/p>\n
Its boss Chris Weston said the company had made “solid progress” on its attempted turnaround, but that record rainfall meant pollutions and spills were “unfortunately up”.<\/p>\n
The ailing business is saddled with debts which stood at just under \u00a316bn in those six months, up 7% on the year before.<\/p>\n<\/div>\n
An insider told the BBC that if it was not for the firm’s huge debt pile, Thames would be in reasonable shape financially.<\/p>\n
In its latest results, it reported a profit before tax of \u00a3249.6m – 20% up on the year before.<\/p>\n
But the company could run out of money within the first three months of 2025, which is why its creditors secured a lifeline of up to \u00a33bn<\/a> to be released in two tranches, the first \u00a31.5bn of which could be released in February.<\/p>\n The survival of the company depends a cash infusion from investors during this time, although water supplies will not be affected by the outcome.<\/p>\n One in four people in the UK rely on Thames and its customers are facing a steep rise in bills.<\/p>\n<\/div>\n