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 …
The water regulator is working on rescue plans for Thames Water that could see its sprawling operations dismantled and sold off as piecemeal to rival suppliers. Codenamed Project Telford, Ofwat has tasked a former private equity banker with overseeing its contingency plan for the utility giant, which is battling to stave off collapse under the weight of an £18bn debt …
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 …
