Ofwat has confirmed that an independent Monitor to report on the progress of Thames Water against its equity raise and transformation plans has now been appointed by the water regulator.
L.E.K. Consulting has been appointed as the Monitor and will report back to Ofwat frequently as part of their activity.
The appointment of a Monitor was one of the key elements of the package of commitments from Thames Water, confirmed in August to remedy its licence breach on losing its investment grade credit ratings.
Ofwat has said the commitments, including the Monitor, will remain in place until the company regains two investment grade credit ratings.
