South East Water warns it is struggling to secure critical new financing from investors as the utility, which serves 2.2mn water customers in Kent, carries a £1.7bn debt pile. The company said it has “sufficient resources” to last until July 2027 but warned that shortly after it will need new loan facilities to continue as a going concern.

Its owners — Utilities Trust of Australia, Desjardins and the Nat West Group Pension Fund — injected £75mn in December 2024 and £200mn in May 2025, yet public and political scrutiny over sewage pollution and excessive pay hampers further debt and equity raising. Operational failures in December and January 2025 added £57.5mn in costs, and Ofwat imposed a £30.5mn fine for supply interruptions affecting more than 286,000 people and up to 70,000 homes.

The crisis prompted the resignations of chair Chris Train and chief executive Dave Hinton after a parliamentary inquiry found leadership incompetent. John Halsall, formerly COO at Pennon, has been appointed CEO, and the company says advanced negotiations with lenders for new facilities are nearing completion this summer.