Which water companies are in financial trouble – and which paid out bonuses?
1 month, 2 weeks ago

Which water companies are in financial trouble – and which paid out bonuses?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. – Thames Water Thames Water paid £770,000 in bonuses to its chief executive and chief financial officer but Ofwat stopped it from using customer money to fund them. – Southern Water and South East Water Southern Water’s top executives got £312,000 in bonuses which were paid by shareholders, not customers. And on its company finances, regulators put Southern Water in its “action required” category – one of only three firms, along with Thames and South East Water. South West Water bosses got £470,000 in incentive pay, while Anglian Water paid its finance chief a £95,000 bonus, also funded by shareholders, not customers.

Financial Water Paid Customer Bonuses Bosses Southern Water Thames Ofwat Funded South East Water Customer Money  thames  ofwat  water  financial  bonuses  bosses  paid  trouble  stopped  funded  companies  customer

History of this topic

Revealed: The water firm bosses who claim millions in pay and benefits - despite bills increasing
2 weeks, 6 days ago

Revealed: The water firm bosses who claim millions in pay and benefits - despite bills increasing

Daily Mail  

Water company fat cats who pollute Britain’s seas, rivers and streams claim millions in pay and perks while blowing similar amounts on fines for their poor performance. Thames Water boss Chris Weston who became CEO of struggling Thames Water in January UK’s worst-performing water company Dŵr Cymru Welsh Water, is run by former electricity board boss Peter Perry The UK’s …

How water firms could rinse the taxpayer
2 weeks, 6 days ago

How water firms could rinse the taxpayer

The Independent  

It was probably not the best day for the water industry regulator to announce that average bills in England and Wales will increase by 36 per cent over the next five years. Its debts of around £18bn are simply too large to service without swingeing increases in bills and possible taxpayer assistance – subsidies that will end up in the …

The water industry got itself into a mess – why should customers pay the price?
3 weeks ago

The water industry got itself into a mess – why should customers pay the price?

The Independent  

The water industry regulator’s website crashed this morning as it announced by quite how much the privatised water companies will soon be able to rinse its customers. Despite Thames Water declaring it had made “solid progress” on its transformation and turnaround, it’s not exactly clear what “progress” means in this instance. Companies like to report several different measures of profit, …

Thames Water slapped with £18m fine by Ofwat for dishing out 'unjustified' dividends
3 weeks ago

Thames Water slapped with £18m fine by Ofwat for dishing out 'unjustified' dividends

Daily Mail  

Thames Water has been handed an £18.2million fine after regulator Ofwat used powers to crack down on firms paying 'unjustified' dividends for the first time. The regulator said Thames Water made interim dividend payouts totalling £37.5million to its holding company, Thames Water Utilities Holdings Limited, in October last year and further payouts of about £158.3million in March 2024. The ruling …

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
3 weeks 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

Daily Mail  

Water bosses were today given the green light for huge bill hikes averaging 36 per cent over the next five years. Southern Water customers are being hit hardest with bills going up 53 per cent over the period - and inflation projected to add another 10 per cent. The water firms provide supplies to England and Wales The proposed bill …

Creditors in High Court row over Thames Water restructuring plans
3 weeks, 2 days ago

Creditors in High Court row over Thames Water restructuring plans

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But this is opposed by a secondary group of …

Thames Water boss defends bonuses and repeats calls for steep bills hikes
4 weeks, 2 days ago

Thames Water boss defends bonuses and repeats calls for steep bills hikes

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Regulator Ofwat revealed in November that Thames Water was …

Thames Water receives buyout offer from investment group Covalis Capital
1 month ago

Thames Water receives buyout offer from investment group Covalis Capital

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Investment firm Covalis Capital has …

Water firms blocked from using customer cash for ‘undeserved’ £6.8m boss bonuses
1 month, 2 weeks ago

Water firms blocked from using customer cash for ‘undeserved’ £6.8m boss bonuses

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nine water companies, including stricken …

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses
1 month, 2 weeks ago

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Troubled Thames Water is among …

Thames Water: Fears of more bill hikes as £38bn bill revealed
1 month, 3 weeks ago

Thames Water: Fears of more bill hikes as £38bn bill revealed

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. A spokesperson for Thames Water said: “We take a rigorous approach to financial discipline …

One of Britain’s worst-performing water suppliers turns to vulture funds for rescue deal
2 months ago

One of Britain’s worst-performing water suppliers turns to vulture funds for rescue deal

The Telegraph  

One of Britain’s worst-performing water companies has turned to vulture funds for crunch funding as mainstream lenders turn their backs on the beleaguered sector. Southern Water, which supplies more than 2m homes, is understood to have secured a deal with a group of hedge funds after struggling to raise fresh funding from the conventional capital markets. Last week, S&P lowered …

Polluting water companies to face lighter punishments despite public outrage
2 months, 1 week ago

Polluting water companies to face lighter punishments despite public outrage

The Telegraph  

Failing water companies face lighter punishments under a climbdown being prepared by the industry regulator, risking an increase in leakages, water supply interruptions, and pollution. Investors in Britain’s water sector have rounded on the watchdog, claiming its hardline stance risks deterring further foreign investment in the industry at a time when it is crying out for billions of pounds of …

Thames Water: Why does the struggling water firm need emergency funding?
2 months, 2 weeks ago

Thames Water: Why does the struggling water firm need emergency funding?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thames Water has said it …

Water firms to return £158m to customers over leaks and pollution failings
3 months ago

Water firms to return £158m to customers over leaks and pollution failings

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Water companies will have to …

Water companies ordered to pay back £158m to customers
3 months ago

Water companies ordered to pay back £158m to customers

The Telegraph  

Water companies have been ordered to return £158m to households as they were rebuked over their poor performance. It comes after water companies’ sewage spills into English rivers and seas more than doubled last year, adding to growing public outrage over the privatised utilities sector. Ofwat chief executive David Black warned that water companies kept blaming “outside causes” rather than …

Water suppliers brace for £2bn in sewage fines
4 months, 3 weeks ago

Water suppliers brace for £2bn in sewage fines

The Telegraph  

Britain’s troubled water sector is facing the threat of £2bn in penalties over the next five years, as regulator Ofwat attempts to crack down on sewage failings. A report by the ratings agency Moody’s has predicted that tougher rules on pollution will spark a flood of regulatory fines, burdening many businesses already struggling to stay afloat. In Moody’s latest assessment …

Water customers to receive up to £2k compensation payments for serious service failures
4 months, 4 weeks ago

Water customers to receive up to £2k compensation payments for serious service failures

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Water customers will start receiving higher rates of compensation for …

British water firms fined for sewage pollution
5 months ago

British water firms fined for sewage pollution

China Daily  

A van for the water treatment company Thames Water, is driven along a residential street in Guildford, southern England, Aug 6, 2024. Three major water utility companies in the United Kingdom face 168 million pounds in fines for numerous illegal sewage releases into rivers and coastal waters. Ofwat stated that the water companies "failed to ensure that discharges of untreated …

Mapped: Sewage in English rivers as water companies face £168m in combined fines
5 months ago

Mapped: Sewage in English rivers as water companies face £168m in combined fines

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. Please try again later {{ /verifyErrors }} Water regulator Ofwat …

Campaigners welcome £168m sewage fines but warn of ‘broken’ water industry
5 months ago

Campaigners welcome £168m sewage fines but warn of ‘broken’ water industry

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Campaigners have welcomed the multimillion-pound …

Three of England’s biggest water companies face £168m in fines over sewage spills
5 months ago

Three of England’s biggest water companies face £168m in fines over sewage spills

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Industry regulator Ofwat has proposed £168m of fines for three …

Ofwat proposes £168m in fines for three water companies over sewage spills
5 months ago

Ofwat proposes £168m in fines for three water companies over sewage spills

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Ofwat has proposed £168 million …

Thames Water Creditor Abrdn Sees Bond Losses of Up to 20%
5 months, 3 weeks ago

Thames Water Creditor Abrdn Sees Bond Losses of Up to 20%

Live Mint  

-- One of Thames Water Ltd.’s key bondholders says a turnaround of the company envisioned by the government regulator has raised the likelihood of significant losses on its top-ranked securities. Luke Hickmore, investment director at Abrdn Investment Management Ltd., said it will be harder for the UK’s biggest water and sewage company to attract a new buyer without imposing losses …

Water bills going up map: Ofwat’s recommendations for your area
5 months, 4 weeks ago

Water bills going up map: Ofwat’s recommendations for your area

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Water bills in England and Wales are set to rise …

Starmer vows to make underperforming water bosses ‘personally responsible’
5 months, 4 weeks ago

Starmer vows to make underperforming water bosses ‘personally responsible’

The Telegraph  

It emerged on Thursday that Britain’s biggest water company, which serves 16 million customers in London and the south east, will face more intrusive oversight from Ofwat after being put into special measures. Chris Walters, an Ofwat director said: “It is difficult for us to stand behind a plan that a board can’t stand behind.” As part of its announcement …

Consumers set to learn of likely water bill rises over next five years
5 months, 4 weeks ago

Consumers set to learn of likely water bill rises over next five years

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Consumers in England and Wales …

South West Water hands boss huge pay hike despite pollution soaring
6 months, 4 weeks ago

South West Water hands boss huge pay hike despite pollution soaring

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chief executive of under-fire water group Pennon saw her …

Thames Water seeks 45pc bill rise as it piles pressure on Ofwat
8 months, 2 weeks ago

Thames Water seeks 45pc bill rise as it piles pressure on Ofwat

The Telegraph  

It emerged on Monday that feared US hedge fund Elliott, owner of Waterstones, has been buying up debt in Thames Water in a bid to profit from its recent turmoil, the Financial Times reported. The need for increased revenues at Thames Water has been made increasingly acute after shareholders, such as China’s sovereign wealth fund, cut off funding last month. …

Thames Water under threat of nationalisation as shareholders refuse to inject £500m lifeline
9 months, 1 week ago

Thames Water under threat of nationalisation as shareholders refuse to inject £500m lifeline

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. Thames Water’s sewage treatment works have come under scrutiny The …

Thames Water: Who owns the struggling water service – and could it be nationalised?
9 months, 1 week ago

Thames Water: Who owns the struggling water service – and could it be nationalised?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. If Thames Water’s financial issues cause it to become unable to deliver its services …

Thames Water dividend payouts in spotlight after shareholders pull funding
9 months, 1 week ago

Thames Water dividend payouts in spotlight after shareholders pull funding

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK’s largest water company …

Five water firms in court over allegations of under-reporting pollution
9 months, 3 weeks ago

Five water firms in court over allegations of under-reporting pollution

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Five UK water companies have …

Welsh Water to pay out almost £40m after misleading over poor performance
9 months, 3 weeks ago

Welsh Water to pay out almost £40m after misleading over poor performance

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Welsh Water has been ordered …

Thames Water hires new boss on pay deal worth up to £2.3m
1 year ago

Thames Water hires new boss on pay deal worth up to £2.3m

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thames Water has hired a …

Troubled Thames Water names former Centrica executive as its new boss
1 year ago

Troubled Thames Water names former Centrica executive as its new boss

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thames Water has named a …

South East Water pays out £2.3m in dividends amid widened losses and Ofwat probe
1 year, 1 month ago

South East Water pays out £2.3m in dividends amid widened losses and Ofwat probe

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy South East Water has revealed …

Thames Water asked to explain how dividend payment does not break Ofwat rules
1 year, 1 month ago

Thames Water asked to explain how dividend payment does not break Ofwat rules

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Ofwat has asked Thames Water …

Ban water company chief executive bonuses, Labour to tell Commons
1 year, 1 month ago

Ban water company chief executive bonuses, Labour to tell Commons

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Labour will strengthen regulation to make sure every single …

Ofwat names four worst performing water firms as £1.4bn paid out to shareholders
1 year, 2 months ago

Ofwat names four worst performing water firms as £1.4bn paid out to shareholders

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Water regulator Ofwat has named …

Which five water companies must pay the most for failing to meet Ofwat targets?
1 year, 3 months ago

Which five water companies must pay the most for failing to meet Ofwat targets?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Under Ofwat’s performance review, the company is expected to …

Water firms face £800m legal action after ‘underreporting sewage discharges’
1 year, 5 months ago

Water firms face £800m legal action after ‘underreporting sewage discharges’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Six English water companies will face legal action over allegations …

Thames Water averts nationalisation threat with £750m funding lifeline
1 year, 5 months ago

Thames Water averts nationalisation threat with £750m funding lifeline

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Britain’s biggest water supplier said the initial funding agreement …

Thames Water crisis explained as utility giant serving 15m people faces collapse
1 year, 6 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 …

Thames Water boss quits after giving up bonus over sewage spills
1 year, 6 months ago

Thames Water boss quits after giving up bonus over sewage spills

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The boss of Thames Water has quit weeks after being …

Water firms given go-ahead for £2.2bn of upgrades
1 year, 6 months ago

Water firms given go-ahead for £2.2bn of upgrades

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Water companies will be allowed …

Thames Water boss quits amid race to raise £1bn from investors
1 year, 6 months ago

Thames Water boss quits amid race to raise £1bn from investors

The Telegraph  

The boss of Thames Water has quit as the company races to raise £1bn from its shareholders. Sarah Bentley’s surprise departure comes amid long-running talks between the owners of Britain’s biggest water company about how to pay for additional investment in the company. Ms Bentley stepped down just weeks after saying she was part of a “relatively new team” trying …

South West Water boss gives up £440,000 bonus amid sewage leak backlash
1 year, 6 months ago

South West Water boss gives up £440,000 bonus amid sewage leak backlash

The Telegraph  

The boss of South West Water-owner Pennon Group has given up £440,000 in bonuses in the wake of record water quality fines for the company. Her decision comes amid growing public anger over the volume of sewage dumped in rivers and on beaches as water companies continue large payouts to shareholders. The firm was fined £2.15m in April for illegally …

People refusing to pay wastewater bills over anger at sewage pollution
1 year, 7 months ago

People refusing to pay wastewater bills over anger at sewage pollution

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “You’re trying to charge me for something I’m not getting and I will not pay that until you stop …

Discover Related