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LONDON - Thames Water Utilities Limited announced Friday it has secured a further deferral from Ofwat on referring its Final Determination to the Competition and Markets Authority (CMA) until October 22, 2025.
The extension follows an initial 18-week deferral period that began on March 18, according to a company statement. Thames Water originally requested the CMA reference on February 14, maintaining that Ofwat’s Final Determination "does not serve the interests of Thames Water’s customers, communities and the environment."
The company emphasized that this additional deferral does not constitute a withdrawal of its CMA reference request. The extension aims to provide more time for ongoing discussions between Thames Water, its senior creditors, and Ofwat regarding the company’s future regulatory arrangements.
These discussions are focused on developing a "market-led solution for the recapitalization of the Company, including through an equity raise, without the need for a CMA reference," the statement said.
Thames Water indicated it remains committed to completing a recapitalization transaction that will benefit its customers and the environment "as soon as practicable."
The utility company is the UK’s largest water and wastewater services provider, serving millions of customers across London and the Thames Valley region.
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