Creditors of Thames Water have proposed a £10 billion rescue plan that includes appointing new directors to the utility's board in an effort to avoid temporary nationalisation. The suggested appointments of Liz Barber and Clive Selley aim to reassure the government about the leadership changes necessary for a commercial deal. Campaigners have criticized the proposal as a superficial fix rather than a genuine solution for the utility's challenges.
The plan comes as public ownership advocates call for greater control over Thames Water, with concerns that the costs of running the company could fall to taxpayers. The creditors are seeking to regain control after a previous sale attempt failed, emphasizing a long-term commitment to rebuilding trust with customers and improving the utility's operations.