Thames Water has made a fresh bid to hike bills by 40%, promising more spending on environmental projects, but questions still remain on whether it can secure the funding required to deliver it.The utility will cut day-to-day spending in order to free up another £1.1 billion more to spend on environmental projects over the five years from 2025-2030. That brings total spending over the plan to £19.8 billion.By cutting spending elsewhere, it will keep bill increases at 40%, rather than the 56% hike that had been feared.