Thames Water to run out of money by end of the year Water Thames Water is set to run out of cash by the end of the year as the UK’s largest private utility company struggles to secure a finalised rescue deal. The embattled water firm – which serves around 16m customers, mostly in London and the South East – said in its latest financial report that it [...]
South East Water told to cough up £31m and improve infrastructure Water South East Water has been ordered to cough up a hefty redress and create an improvement plan for its operations after multiple investigations by the industry regulator found failures in its infrastructure and customer service. The utility firm – which supplies drinking water to 2.3m customers across the likes of Kent, Sussex and Surrey – [...]
Thames Water creditors offer ‘best and final’ rescue funding deal Water Thames Water’s creditors have offered a “best and final” offer deal involving new debt and equity in a bid to prevent it from falling into a special administration regime. Investment behemoths Elliott Management, Silver Point Capital, Invesco, PIMCO and other creditors behind the consortium London & Valley Water have presented Ofwat, the water regulator, with [...]
South East Water in spat with watchdog after £22m fine March 5, 2026 South East Water has entered a heated spat with the water regulator after it was hit with a £22m fine. The water firm’s fine covers multiple supply interruptions in Kent and Sussex between the period of 2020 and 2023, effecting more than 286,000 people. Ofwat said its investigations into the water firm found it had [...]
Thames Water’s cash crunch intensifies as bailout rumours swirl August 15, 2025 Thames Water faces a race against time to avoid collapse even after securing a short-term cash injection. The UK’s largest water company is set to run out of money as soon as September 2026 should it fail to secure a financial lifeline in the form of a recapitalisation deal. The utility company said the second [...]
Ofwat to be scrapped in sweeping water reforms July 21, 2025 Ofwat is set to be abolished and replaced by a “single, powerful regulator” aimed at cutting water pollution and protecting families from higher bills, the government has revealed. The Department for Environment, Food and Rural Affairs (Defra) has said operations conducted in England by Ofwat will be merged with the Environment Agency, Natural England and [...]
Ofwat set to fight off legal action over its price review June 24, 2025 Ofwat is set to face legal action over its price review after an application was green-lit to proceed to the High Court.
United Utilities: Banned bonus for FTSE 100 CEO revealed June 23, 2025 The amount top bosses at FTSE 100 giant United Utilities are set to lose in bonuses – after the water giant was named as one of six to be banned from handing out the payouts – has been revealed. Earlier this month, new measures in the Water (Special Measures) Act come into force which prohibited utility [...]
MP to take Thames Water to Supreme Court over restructuring plan June 17, 2025 A Liberal Democrat MP will take a case against Thames Water’s restructuring to the Supreme Court. Charlie Maynard, MP for Witney, was among a group which included the utility’s secondary creditors, who opposed a £3bn emergency loan agreement earlier this year. Thames Water has been battling to stave off special administration over the last year [...]
Tesco shareholders eye returns as ‘awful April’ bill hikes set to hit profit June 8, 2025 Tesco shareholders will be watching closely for signs that it is managing to fend off competition as the supermarket price war heats up and “awful April” bill hikes eat into household income. The UK’s biggest supermarket chain will unveil its financial results for the first three months of its financial year on Thursday. Tesco recently [...]