Thames Water wins court approval in London for emergency funding deal
Trending News
1 week, 3 days ago

Thames Water wins court approval in London for emergency funding deal

Associated Press  

LONDON — Thames Water, which serves 16 million people in and around London, has received court approval for up to 3 billion pounds of emergency funding, preventing the company from falling into government administration. Thames Water, which has about 17 billion pounds of debt, was in danger of running out of money within days if the court had not authorized the new funding. Consumers and politicians have criticized the company, arguing that Thames Water created its own problems by paying overly generous dividends to investors and high salaries to executives while failing to invest in pipelines, pumps and reservoirs. Ofwat, which regulates water companies in England and Wales, in December approved a 35% increase in Thames Water’s consumer charges over the next five years.

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History of this topic

Thames Water secures £3billion lifeline to stave off financial collapse after court battle over it's restructuring plans
1 week, 3 days ago

Thames Water secures £3billion lifeline to stave off financial collapse after court battle over it's restructuring plans

Daily Mail  

Thames Water has won a £3billion emergency bailout bid to stave off its collapse after judges dismissed an appeal against the debt-ridden company's restructure. Thames Water's chief executive Chris Weston said the firm was 'pleased' that the Court of Appeal had upheld a 'strong High Court decision'. Thames Water's boss said the dismissal of a court appeal against its £3 …

Thames Water Making Plans for Possible Special Administration
2 weeks, 5 days ago

Thames Water Making Plans for Possible Special Administration

Live Mint  

-- Thames Water is preparing for the possibility that it may be pushed into special administration following an appeal in a London court next week, according to people familiar with the matter. Dissenting parties — including Charlie Maynard, a Liberal Democrat lawmaker who says he’s acting on behalf of Thames Water customers in his constituency — are asking the court …

Group of Thames Water creditors lose alternative restructuring plan bid
1 month, 1 week ago

Group of Thames Water creditors lose alternative restructuring plan bid

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 An alternative plan to restructure …

Why taxpayers could still face a bill for Thames Water despite £3bn lifeline
1 month, 1 week ago

Why taxpayers could still face a bill for Thames Water despite £3bn lifeline

The Independent  

Britain’s largest, and most indebted, private utility, Thames Water, has been in financial difficulties for some time and has now been given another reprieve by the High Court. The company has substantial physical assets and should, in normal circumstances, with sympathetic regulators and the right balance sheet, enjoy steady monopoly returns from captive consumers – one in four of the …

Thames Water among six water firms urging watchdog for higher bill increases
1 month, 1 week ago

Thames Water among six water firms urging watchdog for higher bill increases

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 is among six …

Fury as ‘profit-thirsty zombie’ Thames Water kept afloat by £3bn bailout
1 month, 1 week ago

Fury as ‘profit-thirsty zombie’ Thames Water kept afloat by £3bn bailout

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. open image in gallery Campaigners are calling for Thames Water to be returned to …

Thames Water’s £3bn loan to stave off collapse despite ‘eye-watering’ terms
1 month, 1 week ago

Thames Water’s £3bn loan to stave off collapse despite ‘eye-watering’ terms

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 won approval …

Thames Water creditors given go-ahead to appeal against restructuring approval
1 month, 1 week ago

Thames Water creditors given go-ahead to appeal against restructuring approval

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. A group of Thames Water’s Class B creditors had …

Water firms appeal to watchdog for higher customer bill increases
1 month, 1 week ago

Water firms appeal to watchdog for higher customer bill increases

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. In December, sector regulator Ofwat said it would allow …

What Thames Water’s £3bn bailout means for your water bill
1 month, 1 week ago

What Thames Water’s £3bn bailout means for your water bill

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 A High Court judge has approved a £3 billion loan …

MP says he intends to appeal against approval of Thames Water restructure plans
1 month, 1 week ago

MP says he intends to appeal against approval of Thames Water restructure 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. I intend to keep fighting for Thames Water’s customers …

Judge approves emergency plan to keep Britain’s largest water company afloat
1 month, 1 week ago

Judge approves emergency plan to keep Britain’s largest water company afloat

Associated Press  

LONDON — A judge approved an emergency plan Tuesday to keep Britain’s largest water company afloat, averting the possibility of a temporary government takeover. Justice Thomas Leech ruled in the High Court in London that the company’s restructuring proposal was a better alternative for the public than having Thames Water become insolvent and come under government administration, or a competing …

Thames Water restructuring approved by High Court judge
1 month, 1 week ago

Thames Water restructuring approved by High Court judge

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. After taking into account the public interest in ensuring …

Thames Water Will Learn Fate Next Week as Cash Is Running Out
1 month, 1 week ago

Thames Water Will Learn Fate Next Week as Cash Is Running Out

Live Mint  

-- Beleaguered utility Thames Water will finally learn its future in less than 100 hours as any hopes for a rescue package rest with a London judge. Early next week, Judge Thomas Leech will give his verdict on a £3 billion emergency loan that would keep Thames afloat until the end of the year. March 24 “is the date Thames …

Thames Water running out of money ‘a risk which cannot be run’, High Court told
1 month, 3 weeks ago

Thames Water running out of money ‘a risk which cannot be run’, High Court told

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 Allowing Thames Water to run …

Why are water bills going up so much?
1 month, 3 weeks ago

Why are water bills going up so much?

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 Household water bills in England …

It’s about time Thames Water was flushed away
2 months ago

It’s about time Thames Water was flushed away

The Independent  

The idea that Thames Water’s customers should pay extra because the company’s shareholders are unwilling to shoulder the cost of building the required infrastructure and restructuring is abhorrent. If our emissions are 1 per cent of the global total, we are already exceeding our share of the world population; according to the latest data, the UK’s population represents approximately 0.84 …

How water firms could rinse the taxpayer
3 months, 1 week 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 months, 1 week 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, …

Households to face average £86 hike to water bills next year alone
3 months, 1 week ago

Households to face average £86 hike to water bills next year alone

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 Households in England and Wales …

Water bills set for steep price hike after Ofwat review – how much will yours rise by?
Trending News
3 months, 1 week ago

Water bills set for steep price hike after Ofwat review – how much will yours rise by?

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 Average water bills in England and Wales will increase by …

Thames Water slapped with £18m fine by Ofwat for dishing out 'unjustified' dividends
3 months, 1 week 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 …

Water bills set to surge by 36%, regulator Ofwat says
Trending News
3 months, 1 week ago

Water bills set to surge by 36%, regulator Ofwat says

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 Average water bills in England and Wales will increase by …

Household water bills to rise by an average £31 a year from April
Top News
3 months, 1 week ago

Household water bills to rise by an average £31 a year from April

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 Household water bills in England …

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 months, 1 week 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 …

Now, the professionals who failed Sara Sharif must answer for their inactions
3 months, 1 week ago

Now, the professionals who failed Sara Sharif must answer for their inactions

The Independent  

An important part of getting justice for Sara Sharif has now been done, with the sentencing of those who tortured and killed her. James Mason Address supplied Season’s bleatings Merry Christmas to all… or, as I am now told I must say, “Happy holidays”. Think what a Reform government could do with such Stasi-like controls… Naïve Labour means well, but …

Creditors in High Court row over Thames Water restructuring plans
3 months, 1 week 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 …

UK water companies 'must do more to help bill payers'
3 months, 1 week ago

UK water companies 'must do more to help bill payers'

China Daily  

A vehicle enters Thames Water's Mogden sewage treatment works in West London, England in this file photo. BEN STANSALL / AFP Water companies in England and Wales have been urged to offer more help to vulnerable customers and bill payers ahead of the latest round of price increases, due to be announced this week. For the last few years, privatized …

UK water companies 'must do more to help bill payers'
3 months, 1 week ago

UK water companies 'must do more to help bill payers'

China Daily  

A vehicle enters Thames Water's Mogden sewage treatment works in West London, England in this file photo. BEN STANSALL / AFP Water companies in England and Wales have been urged to offer more help to vulnerable customers and bill payers ahead of the latest round of price increases, due to be announced this week. For the last few years, privatized …

Households ‘to be hit with hike in water bills of at least 20 per cent’ sparking backlash
3 months, 1 week ago

Households ‘to be hit with hike in water bills of at least 20 per cent’ sparking backlash

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Households are going to be hit with a hike in water …

Thames Water boss defends bonuses and repeats calls for steep bills hikes
3 months, 2 weeks 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 is a leaky pipe – so why are bidders fighting to buy it?
3 months, 3 weeks ago

Thames Water is a leaky pipe – so why are bidders fighting to buy it?

The Independent  

It’s not Thames Water anymore and it hasn’t been that for quite some time; it’s Thames Wat-er-mess. The tragedy of this now-zombie company – which has warned that it will run out of cash sometime next year – is that things like leaks, customer service and the untreated sewage that keeps getting pumped into the environment aren’t anywhere near the …

Thames Water receives buyout offer from investment group Covalis Capital
3 months, 3 weeks 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 …

Investors line up ahead of Thames Water deadline for £3.3bn equity raise
3 months, 3 weeks ago

Investors line up ahead of Thames Water deadline for £3.3bn equity raise

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 A water supplier to more …

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

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

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses
4 months 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
4 months, 1 week 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 …

Thames Water rescue deal reaches ‘important milestone’ in creditor backing
4 months, 2 weeks ago

Thames Water rescue deal reaches ‘important milestone’ in creditor backing

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 won support …

Two in five households will struggle with water bill increases, report warns
4 months, 3 weeks ago

Two in five households will struggle with water bill increases, report warns

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 Two in five households across …

Polluting water companies to face lighter punishments despite public outrage
5 months 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?
5 months 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 companies push for higher bills again as customers face up to 84% hike
5 months ago

Water companies push for higher bills again as customers face up to 84% hike

The Independent  

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Water companies ask to raise bills by even more than first planned
5 months ago

Water companies ask to raise bills by even more than first planned

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. The watchdog wrote: “We will consider this additional expenditure …

Water companies ordered to pay back £158m to customers
5 months, 2 weeks 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 …

Household water complaints spike amid environment and meter concerns
5 months, 3 weeks ago

Household water complaints spike amid environment and meter concerns

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. Concerns about firms’ environmental performance and water meters had …

Ratings agencies downgrade Thames Water further into ‘junk’ status
6 months ago

Ratings agencies downgrade Thames Water further into ‘junk’ status

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 Credit agencies Moody’s and S&P …

Water companies 'lied over sewage discharges'
6 months ago

Water companies 'lied over sewage discharges'

China Daily  

A drone view shows Mogden sewage treatment works, owned by Thames Water, in west London, Britain on July 9. It is alleged that the companies, including the largest, Thames Water, which has around 15 million customers, have under-reported the number of sewage discharges to the water industry regulator Ofwat, enabling them to charge customers higher bills, with Reuters reporting that …

Starmer plots to raise bills to fund Thames Water bailout
6 months, 1 week ago

Starmer plots to raise bills to fund Thames Water bailout

The Telegraph  

Sir Keir Starmer is planning to allow water bills across the country to be raised to pay for a Government bailout of Thames Water. New legislation will let the Government charge all water companies the full £10 billion cost if ministers decide to take over the struggling company. Thames Water has more than £15 billion of debt, and said in …

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