Thames Water

Thames Water Utilities Ltd, known as Thames Water, is a large private utility company responsible for the water supply and waste water treatment in most of Greater London, Luton, the Thames Valley, Surrey, Gloucestershire, north Wiltshire, far west Kent, and some other parts of England; it has a considerable local monopoly. With origins dating back to the formation of the New River Company in 1609, Thames Water was established in 1989 during privatisation of the water industry in England and Wales. The name of the company reflects its role serving the drainage basin of the River Thames; water is sourced from the Thames as well as a number of other rivers and boreholes. The UK's largest water and wastewater services company, Thames Water is responsible for an extensive water management infrastructure which includes the Thames Water Ring Main around London, one of Europe's largest wastewater treatment works and the UK's first large-scale desalination plant—both at Beckton in east London—and the £4.2 billion Thames Tideway sewer currently under construction. Per day, the company supplies of drinking water and treats of wastewater. It serves a population of 15.5 million people—about a quarter of the UK population—but its ageing infrastructure is prone to leakage and is a frequent cause of pollution, for which it has been repeatedly prosecuted and fined. Current shareholders include four major pension funds and four overseas investment funds which between them hold over 90% of the company's shares. The company has been criticised for paying substantial dividends to shareholders while simultaneously taking out loans, accumulating £14 billion in debts. In June 2023, Thames Water was reported to be close to financial collapse; while it secured £750m from shareholders in July 2023, the company warned it would need a further £2.5bn from investors by 2030. London water supply infrastructure and London sewer system Thames Water can trace its history back to the construction of the New River, which was started in 1604 by Edmund Colthurst to carry fresh water from Hertfordshire into London.