Committee publication · Correspondence · 9 July 2025
Correspondence to Thames Water regarding the KKR Board minutes, dated 8 July 2025
From: Environment, Food and Rural Affairs Committee
Inquiry: Reforming the water sector
Summary
The Environment, Food and Rural Affairs Committee demands Thames Water Chair Sir Adrian Montague provide KKR board minutes relating to a proposed takeover by 10 July 2025. The committee cites inaccurate prior evidence, loss of trust, and concerns about public accountability for a monopoly serving 16 million customers. It warns renationalisation could burden public finances and emphasises the need to verify Thames Water is acting in the public interest.
Key findings
- Committee has lost trust in Thames Water due to inaccurate evidence given to it, requiring significant clarification
- Private briefing on KKR takeover minutes is insufficient and does not meet committee's transparency standards
- Thames Water supplies essential monopoly services to 16 million customers, making public interest scrutiny critical
- Renationalisation as fallback would impose significant financial burden on government during economically challenging period
- Committee asserts formal powers under House of Commons Standing Orders to demand production of KKR-related minutes and records
Tone
AdversarialTopics
Key actors
Sir Adrian Montague, Thames Water, KKR, Environment, Food and Rural Affairs Committee, House of Commons
Notable line
“It is unfortunate that recent evidence given to the Committee has been inaccurate and has had to be clarified to such a degree that it has removed the possibility of our working together on the basis of trust.”
Key Quotes
“We again remind you of our formal powers under the Standing Orders of the House of Commons, and again request the provision of the minutes relating to Thames Water's prospective takeover by KKR.”
“Thames Water provides a natural monopoly product to 16 million captive customers. The potential cost of temporary renationalisation would place a significant burden on our country's finances during an economically challenging period if a market-led solution …”
“Please provide all relevant minutes and records to Committee staff without further de·l ay, and at the latest by midday on Thursday 10 July.”
“We are happy for you to highlight areas of particular concern and will consider carefully whether they should they be made public.”
Source · parliament.uk record ↗