Water bills to rise by an average of £123 Water Households can expect their annual water bill to rise by an average of £123 from April, more than the amount announced by the regulator last month, the sector’s industry body has said. According to Water UK, the average bill in England and Wales will jump from £480 to £603 in the year from 1 April, [...]
United Utilities and Pennon to hike dividends in line with inflation as customer bills rise Business United Utilities and Pennon Group plan to increase dividends as consumers grapple with significant bill increases over the next five years. The water firms on Wednesday both said dividends would rise in line with inflation each year until 2030, following Ofwat’s final determination in December. The regulator’s ruling, which sets customers’ bills for the next [...]
Thames Water: Major upgrades mothballed despite dividend payouts Transport and infrastructure Thames Water diverted millions of pounds it had pledged for environmental clean-ups towards funding bonuses and investor payouts. According to the Guardian, secret discussions were held to consider the risk of a public and regulatory backlash against such a move, which could be seen as a breach of the company’s license commitments and leave it [...]
Household water bills to rise by an average £31 a year from April December 19, 2024 Household water bills in England and Wales will increase by an average £31 a year over the next five years, regulator Ofwat has announced.
Thames Water allowed 35 per cent bill hike but faces £18m fine over dividend payouts December 19, 2024 Ofwat will use new powers to fine Thames Water £18m for two dividend payments it made in the last year and a half.
Water bills set for hefty hike as Ofwat judgement looms December 18, 2024 The water regulator Ofwat is set to allow bills to rise by at least 21 per cent in the next five years, as part of its long-awaited decision on the financial future of the scandal-hit industry on Thursday. Ofwat will reveal its final determination for how much water firms are allowed to hike their bills [...]
Water bills set to rise by a fifth as government calls for ‘complete reset’ of sector December 15, 2024 Water bills are set to rise by at least 21 per cent as the government slams a "failure of regulation and governance" within the sector.
South West Water customers given £450m in subsidies while firm dished out £1.5bn in dividends November 25, 2024 South West Water customers were given nearly half a billion pounds in government subsidies to keep their bills down, despite the water firm shelling out three times that amount in dividends to shareholders over the same period. The Department of Environment, Food and Rural Affairs (Defra) has been giving people in South West Water’s catchment [...]
Ofwat blocks nine water firms from using customer cash for hefty bonuses November 21, 2024 Ofwat said it would use new powers to prevent customers paying for £6.8m in payouts across the industry, 73 per cent of the total.
Thames Water launches £3bn emergency fundraising drive October 25, 2024 Thames Water has launched a £3bn fundraising drive to help pay off some of the struggling utility’s large debt pile. The water company has just £500m in cash, and hopes the new money will extend its ability to function for at least another year. Thames Water said today that the money will allow the firm [...]