Thames Water has funds to survive until end of year but warns of uncertainty over future

Annual results show struggling firm’s net debt has risen to £18.5bn, up from £16.8bn a year earlier

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Thames Water has said it has sufficient funding to survive until the end of the year but warned of “material uncertainty” over its future as it scrambles to recapitalise to avoid nationalisation.

The UK’s largest water company, which serves 16 million customers in London and the south of England, said it continued to work with creditors, regulators and the government on a recapitalisation plan.