Thames Water looks for permission to charge customers even higher bills

Thames water has approached the competition regulator in an attempt to charge customers even more.

Transcript

00:00So, potentially more bad news for many already struggling Londoners. Thames Water, which

00:07as we know has been facing total financial turmoil, has approached the competition regulator

00:15to allow the company to charge customers even more money. The company has already been allowed

00:23a 35% rise in consumer bills over the next five years by water regulator Ofwat, after

00:30Thames Water had previously lobbied for a 59% hike. Now it wants the Competition and

00:36Markets Authority to review Ofwat's decision, a move that the chairman of the company, Adrian

00:43Montague, claims is in the interests of customers and the environment. This move is likely to

00:51spark further outrage among politicians, consumer groups and not to mention the people

00:58of London, who have already expressed outrage at Thames Water's upcoming bill increases.

01:06The company has actively tried to defend paying large bonuses to senior executives, while

01:12it has seen worsening performance on sewage pollution. The company even threatens to increase

01:20the salaries of its top directors if Ofwat follows through on plans to limit bonus payments.

01:27Now in debt by an estimated £19bn, Thames Water is said to only have enough money to

01:35survive until 24 March.