Creditors propose new board to avert Thames Water nationalisation

The creditors seeking to rescue Britain’s largest water supplier have announced plans to install a new board of directors in a move aimed at securing government approval and preventing a collapse into state control. On August 24, 2026, the London Valley Water consortium, which holds £17 billion of Thames Water’s debt, proposed four senior figures to oversee the utility if its rescue plan is accepted. The appointments are intended to demonstrate strong governance and reassure ministers that the heavily indebted company can be rebuilt under private ownership.