Tag: Water industry

BusinessStartups

Thames Water spent £20mn on failed KKR rescue due diligence

Thames Water reportedly paid over £20 million to cover KKR’s due diligence costs for a rescue bid that ultimately collapsed. The payment comes as the financially strained utility faces mounting pressure from £20 billion in debt and crumbling infrastructure, with customers potentially footing the bill for advisory fees.

Thames Water, the UK’s largest water utility currently teetering on the brink of financial collapse, paid more than £20 million to cover a private equity firm’s due diligence costs for a rescue bid that never materialized, according to recent reports. The substantial payment to KKR has raised fresh concerns about cash leakage from the troubled company at a time when it’s struggling under £20 billion of debt.

Failed Rescue Attempt

by Darren Holt
Economy and TradingEnergy

UK Energy Bills Set for 20% Rise Despite Wholesale Price Drops, Suppliers Warn

Octopus Energy executives told MPs that household energy bills are on track to increase by 20% over the next four years regardless of wholesale market movements. The warning highlights how government policy costs and network upgrades are driving bill increases beyond energy commodity prices.

Energy Bills Projected to Climb Despite Falling Wholesale Prices

Britain’s largest energy supplier has warned that household bills could rise by 20% over the next four years even if wholesale electricity prices were to fall by half, according to testimony before Parliament. Octopus Energy executives told MPs that government policy costs and network upgrade charges are becoming the primary drivers of energy bill increases, overshadowing traditional market factors.

by Darren Holt