UK utility giant Thames Water will seek fresh funding to keep business afloat

LONDON (AP) — Britain’s largest utility company Thames Water says it will seek fresh funding to keep the business afloat even as it warned it would run out of money by the end of May. The company, which is burdened by some $19 billion in debt, has been locked in a dispute with regulator Ofwat regarding how high bills can be increased by 2030 to pay for critical repairs to infrastructure. A financial update Tuesday comes only days before Ofwat offers a draft verdict on its five-year spending plans. Thames Water provides water and sewage services to some 16 million customers in London and the Thames Valley region.