Committee publication · Correspondence · 23 June 2026
Correspondence from Sir Adrian Montague, Chairman, Thames Water regarding due diligence report, dated 9 June 2026
From: Environment, Food and Rural Affairs Committee
Inquiry: Reforming the water sector
Summary
Sir Adrian Montague, Thames Water Chairman, responds to the Environment, Food and Rural Affairs Committee's 3 June request for due diligence materials. Thames Water confirms it will seek releases from report providers to share documents with London & Valley Water before Ofwat's decision announcement. The management retention scheme remains paused.
Key findings
- Due diligence reports passed to London & Valley Water are subject to confidentiality and professional obligations owed to report providers
- Thames Water will work with L&VW to obtain necessary releases from report providers between now and Ofwat's decision announcement
- Thames Water acknowledges the commercially sensitive and national security dimensions of the due diligence materials
- Management retention scheme remains in paused status
Tone
ProceduralTopics
water-utilitiescorporate-governanceconfidentiality
Key actors
Sir Adrian Montague, Alistair Carmichael, Thames Water Utilities Limited, London & Valley Water, Ofwat
Notable line
“… we will work with L&VW between now and Ofwat announcing its decision to seek the necessary releases from the report providers.”
Key Quotes
“The reports are subject to confidentiality and other obligations owed to the professional providers of the reports.”
“In order to release this information we will work with L&VW between now and Ofwat announcing its decision to seek the necessary releases from the report providers.”
Source · parliament.uk record ↗