Exclusive: Managers and lenders racing to find a buyer want regulator to agree to leniency amounting to billions of pounds
Thames Water is asking to be spared billions of pounds of costs and fines over the next five years and heap more on to bills so it can attract new investors, the Guardian can reveal.
The struggling water company is racing to find a buyer over the next eight weeks and is trying to persuade the regulator Ofwat to grant it significant leniency on penalties and extra costs, to attract bidders. That would mean customer bills rising by far more than the 35% it has been allowed.
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