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