Thames Water - comment

The creditors have filed an alternative, minimalist plan that requires no price rises, but also no fines and less CapEx for the coming five years. Not having seen the plan, the only way we can tie this together is with a vast bump in prices in/from 2031, which might just suit this government, but even more than the KKR plan, requires legal assurances that these economcs will be coming even if a new government is in power. We were under the impression that this was where the KKR talks failed, but those involved in the discussions now will know better.