A new survey shows 54% of Thames Water customers want Ofwat to place Thames Water into special administration to save it from collapsing rather than accept a proposal put forward by the supplier’s creditors. Survation was commissioned by We Own It to explore Thames Water customers’ views on their water supplier and solutions to their financial problems. Between 18th – 26th December 2025, 1,095 adults aged 18+ living where Thames Water provides their water or wastewater were polled on these topics.

Before Christmas, Ofwat agreed Thames Water can increase their customers’ bills by 35% over the next five years. When put to customers, four in five (79%) said that this increase is unreasonable. Only 15% found it acceptable. The majority of customers (52%) expect to be able to afford the increase, in comparison to 34% who said they won’t. Lower income households will find it more of a struggle (49%) than those with a higher income (23%). Renters were most likely to say they can’t afford the increase: the majority of social renters (51%) and 44% of private renters expect to be unable to. 

Over the past months, creditors of Thames Water have had discussions with Ofwat about the supplier’s economic predicament. Creditors have said they can reduce the utility’s debts by a quarter if it stays privatised. The government could also take it into special administration, where Thames Water’s debts could be reduced by 40%. Customers were more likely to opt for reducing its debts under special administration (45%) than under the creditors’ deal (25%).

Additionally, creditors stated they will provide further financial investment into the company to keep it afloat on the condition of Ofwat relaxing pollution rules with Thames Water, which creditors say Thames Water would be unable to abide by until 2035-2040. However, when this was put to Thames Water customers, the majority (52%) said they find this proposal unacceptable – and just a quarter (26%) of customers stated it is acceptable. These views can possibly be attributed to customers’ environmental concerns: half (52%) want the government to meet their pledge of halving sewage levels by 2030 and 29% want the government to exceed this target. Just 7% think the government does not need to achieve this.

Having been presented with the information about Thames Water’s creditors’ deal and special administration, over half (54%) of customers stated Ofwat should reject the deal and place Thames Water into special administration and over a quarter (28%) preferred Ofwat to accept the deal. If Thames Water was to be under special administration, almost two thirds (64%) of customers would rather it was then transferred into permanent public ownership. Under a quarter (23%) prefer it to move back into privatisation. The government may therefore want to nationalise Thames Water via special administration in the public’s greater interest.

Moreover, customers were asked if Thames Water and the water sector should be nationalised or privatised in general. For both Thames Water and the water sector, most chose nationalisation (68% and 66% respectively) –  three times as many as those who selected privatisation, showing overwhelming backing for public ownership. A fifth would rather the water sector was run privately (21%) and 19% prefer Thames Water to be privately owned. On top of this, 36% believe shareholders should not be compensated if it was to be moved into the public sector – the most common answer leading by 4%. A third (32%) thought the £14.5 billion value of assets should be used to determine compensation. Lastly, 1 in 10 think the government’s estimate of £100 billion should be used.

Altogether, those supplied by Thames Water are clear that they want the company to operate in the public sector and appear dissatisfied with Thames Water’s plans to get itself out of its precarious financial situation. Customers don’t think the approved price increases are acceptable and several don’t expect themselves to be in a position to afford it. They would rather the utility was moved into special administration and then nationalised. With the majority stating they’ll find the increase to their bills unreasonable and the cost of living crisis remaining on the nation’s mind, the government will want to consider how their next steps with Thames Water’s financial future affects customers’ finances too.

GET THE DATA.

Survation conducted an online poll of 1,095 adults aged 18+ living in areas covered by Thames Water on their views about Thames Water. Fieldwork was conducted between 18th – 26th December 2025. Tables are available here.

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