Thames Water crisis explained as utility giant serving 15m people faces collapse
1 year, 5 months ago

Thames Water crisis explained as utility giant serving 15m people faces collapse

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. He told Sky News: “Absolutely nothing is going to happen in terms of either their bills or their access to water, we have contingency plans - like we do in all of these network utilities - to manage any difficult situations.” Despite this pledge, Alex Jay, Partner and Head of Insolvency and Asset Recovery at law firm Stewarts, explained that there was “significant risk in the medium or long term” that bills would increase for consumers. Pension funds invested with Thames Water could potentially face “significant impairment to their investments”, an expert has said. “Ofwat will continue to keep companies’ financial resilience under close scrutiny and work with companies to ensure they take action to ensure that they have the financial backing to deliver for customers and the environment.” The water regulator has said it has been clear about Thames Water’s ‘significant issues’ Are any other water companies in trouble? “Ofwat had been monitoring Southern Water and Yorkshire Water, as well as Thames Water, given its concerns over their financial resilience.

History of this topic

Revealed: The water firm bosses who claim millions in pay and benefits - despite bills increasing
4 days, 1 hour ago
Water bills set for steep price hike after Ofwat review – how much will yours rise by?
Trending News
4 days, 14 hours ago
Thames Water slapped with £18m fine by Ofwat for dishing out 'unjustified' dividends
4 days, 16 hours ago
Water bills set to surge by 36%, regulator Ofwat says
Trending News
4 days, 17 hours ago
Household water bills to rise by an average £31 a year from April
Top News
4 days, 18 hours ago
Brits get soaked again! Check how much YOUR water bill is going up by after watchdog signs off massive hikes... with some places facing 53% rise PLUS inflation
4 days, 18 hours ago
Now, the professionals who failed Sara Sharif must answer for their inactions
5 days, 7 hours ago
Creditors in High Court row over Thames Water restructuring plans
6 days, 10 hours ago
Households ‘to be hit with hike in water bills of at least 20 per cent’ sparking backlash
1 week, 1 day ago
Thames Water got itself into this mess – but its customers will pay the price
1 week, 6 days ago
Thames Water boss defends bonuses and repeats calls for steep bills hikes
1 week, 6 days ago
Thames Water is a leaky pipe – so why are bidders fighting to buy it?
2 weeks, 3 days ago
Water firms blocked from using customer cash for ‘undeserved’ £6.8m boss bonuses
1 month ago
Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses
1 month ago
Thames Water: Fears of more bill hikes as £38bn bill revealed
1 month ago
United Utilities raises shareholder payout despite Windermere pollution
1 month, 1 week ago
Polluting water companies to face lighter punishments despite public outrage
1 month, 3 weeks ago
Thames Water: Why does the struggling water firm need emergency funding?
1 month, 4 weeks ago
Water companies push for higher bills again as customers face up to 84% hike
2 months ago
Water companies ask to raise bills by even more than first planned
2 months ago
Water firms to return £158m to customers over leaks and pollution failings
2 months, 2 weeks ago
Water companies ordered to pay back £158m to customers
2 months, 2 weeks ago
Ratings agencies downgrade Thames Water further into ‘junk’ status
2 months, 3 weeks ago
Water companies 'lied over sewage discharges'
2 months, 4 weeks ago
Starmer plots to raise bills to fund Thames Water bailout
3 months, 1 week ago
Thames Water debt emergency seized on by US hedge funds
3 months, 2 weeks ago
Thames Water creditors seek peace deal to avoid threat of nationalisation
3 months, 2 weeks ago
What will it cost to finally clean up our water industry?
3 months, 3 weeks ago
Thames Water proposes huge new bills hike
3 months, 3 weeks ago
Water suppliers brace for £2bn in sewage fines
4 months ago
Ofwat planning independent monitor for Thames Water after ratings downgrades
4 months, 2 weeks ago
British water firms fined for sewage pollution
4 months, 2 weeks ago
Mapped: Sewage in English rivers as water companies face £168m in combined fines
4 months, 2 weeks ago
Sewage spills are STILL rising in the UK with companies failing to get crisis under control, Environment Agency warns in damning report
5 months ago
Every river in England is polluted, new Environment Secretary Steve Reed warns as he backs 'severe fines' for utilities illegally pumping sewage into lakes and waterways
5 months ago
New regulations as Labour tries to answer public anger over water companies
5 months ago
Thames Water Creditor Abrdn Sees Bond Losses of Up to 20%
5 months, 1 week ago
Troubled Thames Water braces for enormous fines in latest Ofwat crackdown
5 months, 1 week ago
Fury as water bills are set to rise by £94 over next five years as regulator allow firms to hike prices by 21 per cent - so how much is your bill going up by?
5 months, 1 week ago
Starmer vows to make underperforming water bosses ‘personally responsible’
5 months, 1 week ago
Thames Water could dump more sewage in rivers under ‘recovery regime’
6 months, 3 weeks ago
Water investors have withdrawn billions from private companies, analyst claims
7 months ago
Revealed: Interactive map shows where overloaded sewage pipes could burst again because water companies say it is 'not cost beneficial' to upgrade - but is YOUR home at risk?
7 months ago
Thames Water is worthless, says biggest investor
7 months, 1 week ago
Ofwat explores Thames Water break-up in ‘Project Telford’ rescue plan
7 months, 3 weeks ago
Troubled water company warns of 44% increase in bills
8 months ago
Fears that customers' Thames Water bills could surge by 44 percent as troubled water company admits it needs £1.1billion more than it thought to fix sewage spills and leaks
8 months ago
Thames Water seeks 45pc bill rise as it piles pressure on Ofwat
8 months ago
Steve Coogan blasts water company ‘greenwashing’ over Lake Windermere pollution
8 months, 1 week ago
Raising bills to pay for Thames Water failures ‘utterly outrageous’, says Hunt
8 months, 1 week ago

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