Thames Water appeals against limit on bill rises

Thames Water has launched an appeal to allow it to increase bills by more than the regulator wants to permit. The UK's largest utility company is calling on the competition regulator to overturn a decision from the water industry regulator, Ofwat, which caps bill rises at 35% over the next five years. Thames, which is in severe financial difficulties already, is also waiting for the courts to approve a £3bn rescue from investors. Thames has argued bills need to rise by 53% over the five-year period. Other water companies are also permitted to lodge appeals against bill settlements, which are specific for each utility company. The regulator is looking into whether delays to the plans mean Thames has breached its licence.