Thames Water has gained access to a further £230 million in funding following the results of the 13th Consent Requests and STID Proposal the water company launched on 24 August 2026.
In 2025, the utility entered into a super senior facility with its subsidiary, Thames Water Super Senior Issuer plc and an initial £1.5 billion was made available under the facility. Thames Water and the Super Senior Issuer have the ability to raise a further £1.5 billion under the facility, in two tranches each of £750 million (the Accordion), subject to the satisfaction and/waiver of a number of conditions.
As previously announced, they have since secured commitments of a further £823 million - the first £750 million tranche of the Accordion plus a shortfall amount of c. £73 million pursuant to an Accordion allocation process launched in February 2026. This brings the total amount of commitments secured under the Facility to £2.323 billion (of which £2.25 billion is funded and c.£73m is committed but deferred.
Thames Water launched the process to allocate the remaining c.£667 million of the Accordion in July 2026 - the remainder of the second £750 million tranche of the Accordion, bringing the total amount of commitments secured under the facility to £3 billion.
The latest consents extend the June Release Condition under the facility to 30 September 2026 and permit the drawdown of £230 million in September 2026 to Thames Water.
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