Water industry requires fundamental reset, review finds June 3, 2025 There is no single change radical enough to deliver the “fundamental reset” needed by the UK’s water industry, a much-anticipated review into the sector has found. The Cunliffe review has been led by former Bank of England deputy governor Sir John Cunliffe and is the largest since the sector was privatised in the late 1980s. [...]
Thames Water: What next after KKR walks? June 3, 2025 Thames Water was dealt a crushing blow this morning after its preferred bidder, the US private equity giant KKR, abruptly withdrew from its pursuit of the embattled utility. The decision leaves the UK’s largest water supplier without a buyer and puts it back on the brink of administration. It follows just a week after it [...]
Environment secretary says Thames Water has ‘a number’ of options June 3, 2025 Environment secretary Steve Reed told LBC’s Nick Ferrari that there are “a number” of potential investors for Thames Water, just minutes after news broke that US private equity firm KKR had dropped out of a last ditch effort to save the embattled water giant. Reed had already been booked to appear for a ‘Call the [...]
Blow to Thames Water as KKR pulls out of equity raise June 3, 2025 Thames Water’s battle to escape nationalisation has suffered a hammer blow after KKR withdrew its bid to acquire an equity stake in the business. The US private equity giant had been selected as a preferred partner for the debt-laden utility business as part of its efforts to raise funds, with KKR having “prepared detailed plans, [...]
Thames Water slapped with historic £123m fine from Ofwat May 28, 2025 Thames Water will receive a historic £123m fine from the water regulator over rule breaches tied to its wastewater operations and dividend payouts. Ofwat confirmed a final decision on Tuesday following two of its “biggest and most complex” investigations into the beleaguered utility’s operations. Thames Water and its shareholders will pay a £104.5m penalty for [...]
Hercules PLC: Powering Britain’s infrastructure ambitions May 21, 2025 The UK stands on the cusp of an unprecedented infrastructure revolution. With governmental commitments indicating significant investment (plans previously cited at £700bn-£750bn), the nation is poised to transform its transport networks, energy systems, and digital infrastructure. This undertaking will not only require capital but also a large, skilled workforce that can adapt to the nation’s [...]
Thames Water: Bonuses from £3bn emergency loan ‘withdrawn’ May 20, 2025 Hefty bonuses to Thames Water bosses that were carved out of a £3bn emergency loan have been “withdrawn” following backlash, the government has announced. Environment secretary Steve Reed said on Tuesday he was “very happy indeed that Thames have now dropped those proposals. It was the wrong thing to do. They have now withdrawn their [...]
Ofwat: Water regulator courts investors with refreshed PFI deals May 16, 2025 Ofwat is courting investors with plans to guarantee risk and minimise competition as it looks for more than £50bn to upgrade the water sector’s second-rate infrastructure. Private investors will have the “right to collect” revenue from customers, “opportunities for upside”, “capped liabilities” and “investment positive” support from the government, according to a briefing paper seen [...]
United Utilities: Profit rises significantly as water bills hiked May 15, 2025 Profit at United Utilities jumped significantly ahead of the FTSE 100 giant hiking water bills for its more than seven million customers, it has been revealed. The Warrington-headquartered firm, which serves customers in the North West of England, has also proposed an increase to its final dividend of 4.2 per cent to 34.6p. The company [...]
Bosses insist bonuses are justified for running ‘hair raising’ Thames Water May 13, 2025 Bosses at Thames Water have defended taking hefty bonus payouts as Thames Water battles to stay afloat and pollution incidents soar. Chief executive Chris Weston and Chair Sir Adrian Montague are spearheading a turnaround at the crisis-hit utility, which narrowly avoided bankruptcy earlier this year via a £3bn emergency loan from creditors. It was revealed [...]