A cross-party group of MPs has urged ministers to abandon talks with the US hedge funds effectively running Thames Water and to consider emergency legislation that would allow the government to take public control of the company, according to the Guardian.
Key facts
- The Efra committee is calling for ministers to break off talks with the US hedge funds controlling Thames Water.
- Thames Water carries debts of £20bn.
- The company is being controlled by a group of around 100 hedge funds and distressed-debt investors.
- MPs want ministers to consider emergency legislation to take control of the company's financial affairs.
- The calls add pressure on the prime minister and Andy Burnham to take public control.
- Source: The Guardian, published 18 September 2026.
A cross-party group of MPs is pressing ministers to break off talks with the US hedge funds who are effectively running Thames Water, according to the Guardian. In a report, the Environment, Food and Rural Affairs (Efra) committee said ministers should consider emergency legislation to take control of the ailing water company’s financial affairs in order to stabilise it.
The MPs added their voices to wider demands that the prime minister take public control of Thames Water. The company is currently being controlled by a group of about 100 hedge funds and distressed-debt investors, the Guardian reported.
Thames Water is carrying debts of £20bn, a figure that has intensified scrutiny of its ownership structure and future. The committee argued that emergency measures may be needed to bring the situation under control.
The report also placed further pressure on Andy Burnham, who the Guardian said is being urged to take control of the struggling company. The calls reflect growing political concern over how the utility is being managed.
According to the Guardian, the report forms part of a broader cross-party push for the government to step in rather than allow the company’s financial affairs to remain in the hands of its current investors.
Why it matters
The dispute over who should control a heavily indebted essential water company raises questions about public accountability, private ownership and the role of government intervention in the utilities sector.
Frequently asked questions
How much debt does Thames Water have?
According to the Guardian, Thames Water has debts of £20bn.
Who currently controls Thames Water?
The Guardian reports the company is being controlled by a group of around 100 hedge funds and distressed-debt investors.
What are MPs asking ministers to do?
The Efra committee is urging ministers to break off talks with the US hedge funds and to consider emergency legislation to take control of the company's financial affairs and stabilise it.