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 suppliers such as Thames Water are at risk of collapsing into administration if they are fined for bad behaviour, MPs have warned, potentially landing taxpayers with a multi-billion pound bailout bill. The Telegraph revealed on Friday that Whitehall officials are drawing up contingency plans to prepare for the possible collapse of Britain’s largest supplier, which serves 15 million customers …
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 …
Water companies with faulty sewage monitors will receive automatic penalties under new Ofwat rules. More than one in six monitors installed by water companies were found to be faulty last year, The Telegraph revealed last month, prompting accusations of a cover-up of the full extent of sewage spills. Water companies are permitted to spill sewage into waterways from storm overflow …
