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 pockets of the pension funds that rely on a steady stream of dividends rather than a steady stream of water to flush the loo. The latest news from Thames Water is that it has been fined £18.2m by Ofwat over “unjustified” dividend payments to shareholders – specifically, £158.3m paid in October 2023 and March 2024. If it did go bust, the supply of water and sewage services would continue – it’s unthinkable that the taps and toilets should run dry in an advanced economy – and the company would be placed in a special administrative structure, analogous to what happens with a failed bank.

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History of this topic

A burst sewage pipe forced us out of our three-bed house and now we live in a decrepit caravan… how dare water companies increase their prices - it's the final kick in the teeth
1 week, 5 days ago

A burst sewage pipe forced us out of our three-bed house and now we live in a decrepit caravan… how dare water companies increase their prices - it's the final kick in the teeth

Daily Mail  

A former civil servant who was hospitalised after inhaling fumes from a 'leaking sewage pipe' that forced her out of her home for four years has slammed water companies for a huge bill increase. Julie Houldershaw, 51, and her mother, 77, abandoned their three-bedroom house in Gosberton, Lincolnshire, after the stench of sewage became unbearable Instead, the pair have been …

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 …

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, …

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

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 …

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

Government breached law by allowing water firms to discharge sewage, watchdog finds
3 weeks, 2 days ago

Government breached law by allowing water firms to discharge sewage, watchdog finds

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. Summary The Office for Environmental Protection ruled that the UK government and regulatory bodies …

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 …

Households ‘to be hit with hike in water bills of at least 20 per cent’ sparking backlash
3 weeks, 4 days 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 got itself into this mess – but its customers will pay the price
4 weeks, 1 day ago

Thames Water got itself into this mess – but its customers will pay the price

The Independent  

The latest results from Thames Water are difficult to wade through. Companies like to report several different measures of profit, and Thames Water – which, remember, still needs to find £3bn to survive past March – says its earnings before interest, taxes, depreciation, and amortisation, increased by 14 per cent to £715m, when compared with the same period in 2023. …

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 is a leaky pipe – so why are bidders fighting to buy it?
1 month 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
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 …

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 …

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 …

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 companies push for higher bills again as customers face up to 84% hike
2 months, 2 weeks ago

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

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 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 {{ …

Water companies ask to raise bills by even more than first planned
2 months, 2 weeks 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 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 …

Ratings agencies downgrade Thames Water further into ‘junk’ status
3 months, 1 week 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'
3 months, 2 weeks 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 …

Water nationalisation comes with more-than £99 billion price tag, minister warns
3 months, 2 weeks ago

Water nationalisation comes with more-than £99 billion price tag, minister 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 Nationalising water firms would cost …

Starmer plots to raise bills to fund Thames Water bailout
3 months, 3 weeks 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 …

Thames Water debt emergency seized on by US hedge funds
4 months ago

Thames Water debt emergency seized on by US hedge funds

The Telegraph  

A combative Wall Street hedge fund is positioned to play a central role in the future of Thames Water after scooping up the company’s loans at knockdown prices. New York-based Elliott Management is among a pack of aggressive US players to have hoovered up Thames Water debt at steep discounts in an attempt to capitalise on the financial uncertainty engulfing …

The UK says water bosses could face prison under plans to clean up sewage-clogged rivers
4 months ago

The UK says water bosses could face prison under plans to clean up sewage-clogged rivers

Associated Press  

LONDON — The bosses of water companies that pollute waterways could go to prison under a new law the British government says will help clean up the country’s sewage-clogged rivers, lakes and beaches. The private companies that provide combined water and sewage services routinely discharge sewage into waterways when rain overwhelms sewer systems often dating from the Victorian era. Environment …

Thames Water creditors seek peace deal to avoid threat of nationalisation
4 months ago

Thames Water creditors seek peace deal to avoid threat of nationalisation

The Telegraph  

Creditors to Thames Water are attempting to broker a peace deal between the beleaguered supplier and regulator Ofwat amid fears that a breakdown in relations between the two sides risks speeding up the company’s demise. Sources involved in attempts to stop Thames Water being nationalised are warning privately that it may prove impossible to draw up a rescue deal unless …

What will it cost to finally clean up our water industry?
4 months, 1 week ago

What will it cost to finally clean up our water industry?

The Independent  

These are only some of the problems facing the water industry – and a row has erupted about how much money will be needed to solve them. Water UK, the industry’s lobby group, is unhappy about Ofwat’s decision to allow average household bills to rise by £94 per household over the next five years. that its draft decision to cut …

Thames Water proposes huge new bills hike
4 months, 1 week ago

Thames Water proposes huge new bills hike

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. In its response to Ofwat’s draft determination on water companies’ …

How Britain fell out of love with tap water
4 months, 2 weeks ago

How Britain fell out of love with tap water

The Independent  

Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about …

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 …

Every single water company in England and Wales now facing huge sewage investigation by regulator
4 months, 3 weeks ago

Every single water company in England and Wales now facing huge sewage investigation by regulator

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 Britain’s water industry regulator is …

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 …

Sewage spills are STILL rising in the UK with companies failing to get crisis under control, Environment Agency warns in damning report
5 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

Daily Mail  

Sewage spills are still rising in the UK with water companies failing to get the crisis under control, the Environment Agency has warned in a damning report The agency said there were 47 serious pollution incidents last year – up from 44 in 2022. Shocking photos from August 2022 showed how Lake Windermere in the Lake District turned bright green …

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, 2 weeks 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

Daily Mail  

Every single river in England is polluted, the new Environment Secretary claimed today as he backed new 'severe fines' for water companies. He spoke out after regulator Ofwat last week revealed all 11 water firms in England and Wales are under scrutiny as part of a major investigation into sewage pollution in rivers. He spoke out after regulator Ofwat last …

New regulations as Labour tries to answer public anger over water companies
5 months, 3 weeks ago

New regulations as Labour tries to answer public anger over water companies

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 Government is bringing in …

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 …

Troubled Thames Water braces for enormous fines in latest Ofwat crackdown
5 months, 3 weeks ago

Troubled Thames Water braces for enormous fines in latest Ofwat crackdown

The Telegraph  

Thames Water is bracing for an avalanche of fresh fines running into the hundreds of millions of pounds as it battles to stave off emergency nationalisation. The Telegraph understands Thames is facing steep penalties from Ofwat, the industry regulator, for a catalogue of mistakes and scandals including unsanctioned dividend payments, sewage dumping, and missing basic performance targets. Ofwat is also …

Why are water bills going up so much, and what does it mean for consumers?
5 months, 4 weeks ago

Why are water bills going up so much, and what does it mean for consumers?

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 …

Household water bills to rise by £19 a year under draft proposals
5 months, 4 weeks ago

Household water bills to rise by £19 a year under draft proposals

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. Ofwat chief executive David Black said: “Customers want to …

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