Thames Water: Major upgrades mothballed despite dividend payouts December 23, 2024 Thames Water diverted millions of pounds it had pledged for environmental clean-ups towards funding bonuses and investor payouts. According to the Guardian, secret discussions were held to consider the risk of a public and regulatory backlash against such a move, which could be seen as a breach of the company’s license commitments and leave it [...]
Household water bills to rise by an average £31 a year from April December 19, 2024 Household water bills in England and Wales will increase by an average £31 a year over the next five years, regulator Ofwat has announced.
Thames Water allowed 35 per cent bill hike but faces £18m fine over dividend payouts December 19, 2024 Ofwat will use new powers to fine Thames Water £18m for two dividend payments it made in the last year and a half.
Water bills set for hefty hike as Ofwat judgement looms December 18, 2024 The water regulator Ofwat is set to allow bills to rise by at least 21 per cent in the next five years, as part of its long-awaited decision on the financial future of the scandal-hit industry on Thursday. Ofwat will reveal its final determination for how much water firms are allowed to hike their bills [...]
Water bills set to rise by a fifth as government calls for ‘complete reset’ of sector December 15, 2024 Water bills are set to rise by at least 21 per cent as the government slams a "failure of regulation and governance" within the sector.
Thames Water reports surge in pollution incidents as debts swell December 10, 2024 Thames Water saw a 40 per cent increase in pollution incidents in the first half of its financial year as its debts continued to spiral. The company reported 359 so-called category one to three pollution incidents in the six months to September 30, blaming an especially wet spring and summer. Debt levels were £15.8bn at [...]
Water firms look to increase bills amid fears of £400m National Insurance hit December 8, 2024 Water companies are hoping billpayers will carry the cost of a £400m hit from rising national insurance contributions over the next five years, previously announced in the Autumn Budget. The accumulated cost to all water firms’ in England and Wales comes to £80m per year, water industry sources told the Sunday Times. Firms have now [...]
Ofwat blocks nine water firms from using customer cash for hefty bonuses November 21, 2024 Ofwat said it would use new powers to prevent customers paying for £6.8m in payouts across the industry, 73 per cent of the total.
Don’t sit back and watch Thames Water ‘car crash,’ ministers told November 18, 2024 Union warnings come after a Guardian investigation alleged Britain's biggest water company is in a far worse financial state than previously thought.
SSE and United Utilities: Dividends in the spotlight as utility giants report November 10, 2024 Both SSE and United Utilities could increase dividends next week, in their respective half-year results announcements.