April 19, 2024 08:20 GMT
Thames Water (Baa3): Submits New Business Plan
UTILITIES
• The Times reports a new plan was submitted without shareholder support.
• The new plan proposes a 56% rise in bills, up from a 40% rise in the previous plan.
• Ofwat will almost certainly reject this.
• This is likely to be taken negatively by the market with the gap between Ofwat and Thames Water rising and hopes of a negotiated agreement fading.
• THAMES € spreads opened 12-18 wider, £ 0-3 wider.
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