Minister tells Guardian government has ‘no grasp’ of cost involved in preventing possible collapse
The government has “no true grasp on the costs” involved in preventing a collapse of Thames Water, with estimates presented to ministers and regulators suggesting the company could be facing a hole of £10bn in its finances, the Guardian can reveal.
The water company, which serves 15 million customers, is in emergency talks with the water regulator Ofwat, ministers and government departments after the departure of its chief executive and concerns over its ability to continue operating without a multibillion cash injection.
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