Thames Water placed in special measures due to ‘significant issues’

Ofwat says UK's biggest water company will come under extra scrutiny as it faces prospect of restructuring or temporary renationalisation

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The water industry regulator has put Thames Water into unprecedented special measures, allowing extra scrutiny of the struggling water supplier as it faces the prospect of a painful restructuring or temporary nationalisation.

Ofwat said on Thursday that the company, which is creaking under 15.2bn of debt, would be placed in a turnaround oversight regime" and subjected to heightened regulatory" measures, meaning it must regularly report on the progress of its investment plan.