CAMPAIGNERS staged a protest today against plans that would force Londoners to bear the brunt of Thames Water’s bailout.

Concerns have been raised that a proposed £3 billion emergency loan for Thames Water will require households to pay an additional £263 a year.

The deal, from a group of existing creditors for the water firm, will cost a mammoth £800m in interest and fees alone.

The proposal needs to be approved by the High Court and campaigners are calling for government ministers to step in and intervene before its initial hearing on December 17.

Two days later, Ofwat is set to rule on whether it will grant a 53 per cent customer bill hike which has been requested by Thames Water.

Despite amassing £16 billion in debts, Thames Water still managed to syphon off two dividends worth £158.3m in March.

Campaigners from groups including We Own It, Windrush Against Sewage Pollution and the Henley Mermaids staged a protest outside the Department for Environment, Food & Rural Affairs (Defra) today. 

Wearing masks depicting Prime Minister Sir Keir Starmer and Environment Secretary Steve Reed, protesters handed over a giant cheque for £250 to a fake Thames Water representative. 

Matthew Topham, of We Own It, said: “Thames Water has repeatedly failed its customers whilst creaming off massive dividends and racking up mountains of debt. 

“Now they’re asking bill payers for a huge Christmas present: more than £250 a year from every household. 

“People can just about accept bill rises in return for an improved service, but this will do nothing to fix the leaking pipes or stop sewage being pumped into our rivers. 

“It’s a cash transfer from households to hedge funds, from Camden to the Caymans.

“We think Steve Reed should put Thames Water on the naughty list, block the bailout and bring the company back into public ownership.

“It worked in Paris where bills are lower, customer satisfaction levels are high, and last year, they were able to reinvest €89m in improving the network.” 

Jo Robb, Henley Mermaids and Sewage Campaign Network, said: “It is outrageous that struggling people should be expected to foot the bill for Thames Water’s failure. 

“It’s long past time that the scam of privatisation was ended and Thames Water — with more than 180 criminal convictions — is put into Special Administration and taken back into public ownership.”

A Defra spokesperson said: “These claims aren’t true.

“The Water (Special Measures) Bill is placing water companies under special measures and strengthening regulation with new powers to ban the payment of bonuses for polluting water bosses and bring criminal charges against persistent law breakers.

“In the unlikely event of any company entering into a Special Administration Regime, new measures in the Bill will protect taxpayers. It brings the regime in line with Special Administration Regimes in other regulated sectors.”