Sewage dumping water bosses could face criminal charges July 28, 2024 Water bosses responsible for illegal sewage dumping will face criminal charges and have their bonuses axed under new laws, the Environment Secretary has said. Writing in the Mail, Steve Reed said he would introduce law aimed at giving regulators “more teeth.” “Water bosses responsible for repeated illegal sewage dumping will face criminal charges, and I’ll [...]
Moody’s slaps Thames Water’s debt with ‘junk’ rating July 24, 2024 Moody’s Ratings has lowered Thames Water’s highest tranche of debt to 'junk' in another blow to the struggling water firm.
King’s Speech: Ofwat will get new powers to tackle rogue water firms July 17, 2024 Ofwat will be granted fresh powers to ban bonus payments to water firm executives, who could also be held criminally liable for lawbreaking, according to a new bill outlined in the King’s Speech today.
Ofwat is now investigating all eleven of England and Wales’ water companies July 16, 2024 Ofwat is opening enforcement cases into four more water companies in a move that means it is now investigating every single water and wastewater company in England and Wales for the mismanagement of their networks and water treatment.
Thames Water: London bills to rise by £99 in fresh Ofwat proposals as company placed in ‘turnaround’ regime July 11, 2024 Ofwat, the UK's water regulator, has set out a record £88bn spending package that would see Londoders' bills go up by an average of £99 in the next five years excluding inflation.
Mark Kleinman: Water sector’s goodwill will evaporate under Labour July 11, 2024 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his fortnightly Morning Wire column. This week he writes about the new government’s plans for water firms, housebuilders and Schroders The moment has arrived. By the time Morning Wire readers set eyes on today’s newspaper, Ofwat, the water [...]
Water executives called in for talks with new Labour environment secretary July 10, 2024 Water bosses have been called in for talks with Labour’s new environment secretary Steve Reed, ahead of key investment rulings from Ofwat.
Labour has secured a resounding win – now the real challenges start July 10, 2024 As the now-Prime Minister and his advisors will be painfully aware, if he wants to secure a successful first term, the time to act is now.
Thames Water books £200m dividend bill as cash reserves dwindle July 9, 2024 In its annual results, the embattled water company confirmed that its liquidity at the end of June was £1.8bn, "sufficient to found our operations for the next 11 months".
Starmer: Nationalising debt-laden Thames Water ‘not consistent’ with our fiscal rules July 8, 2024 Nationalising Thames Water would “not be consistent” with Labour’s fiscal rules, the Prime Minister’s spokesman has said.