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The EFRA Committee has urged the government to trigger special administration for Thames Water, warning of a doom loop of fines and underinvestment. London & Valley Water is seeking an enhanced rescue proposal, while critics argue public control may be necessary. The debate centers on the company’s £20bn debt and the public impact of its turnaround.
Creditors have named Lord John Hutton as independent chair-designate for Thames Water, aiming to secure government backing for a 10-year rescue plan alongside Mike McTighe. The move signals intensified efforts to stabilise Britain’s largest water utility as it seeks to avert bankruptcy and avoid public takeover.