Thames Water apologises to MPs for ‘confusion’ over £500m loan

Labour MP calls firm’s finances an ‘absolute shambles’ as Ofwat vows it is prepared to put it into administration

Thames Water has apologised to a House of Commons committee for causing confusion by describing a £500m shareholder loan as equity.

One MP called the complex financial structure of Thames Water an “absolute shambles”, as senior executives were pulled in to explain themselves.