What’s really going wrong with water? October 16, 2024 Water has become a political weapon, but yet more regulation is not the answer to attracting the investment we need, says Lord Dominic Johnson Water Water Everywhere! It was very clear from the last election that water has been weaponised. Everyone seems to be deeply unhappy – the consumers, the politicians, the regulators, the investors, [...]
Thames Water creditors in talks with Ofwat for debt rescue plan October 9, 2024 A creditor group has held a meeting with water watchdog Ofwat this week, to pitch plans to keep the troubled Thames Water out of state ownership
Ofwat orders water firms to pay £157.6m for missing performance targets October 8, 2024 Water companies will have to pay a £157.6m penalty after missing key targets on reducing pollution, leaks and supply interruptions while customer satisfaction continues to fall, Ofwat has said. Not one company achieved the regulator’s top category of “leading” while Anglian Water, Welsh Water and Southern Water fell into the lowest category of “lagging” while [...]
Singapore’s wealth fund snubs regulated UK utilities amid Thames Water crisis September 22, 2024 Singapore's sovereign wealth fund has reportedly told the government that it will not invest in regulated UK water, electricity and gas utilities due to unpredictable rules on infrastructure, in a blow for Labour's economic strategy.
Thames Water creditors plan emergency funding for troubled utility September 22, 2024 Thames Water's lenders are reportedly preparing to plough more than £1bn of emergency funding into the embattled utility before the end of 2024 in an effort that could keep it out of government hands.
Thames Water in talks over £3.3bn emergency fundraising deal September 15, 2024 Thames Water has been in contact with Brookfield Infrastructure Partners and Global Infrastructure Partners about a £3.3bn emergency fundraising deal to help pay off some of the struggling utility’s large debt pile, according to reports. The firm, which is the largest of Britain’s privatised regional monopolies, has set itself a deadline of early November to [...]
Water: Tougher regulation will attract ‘global investment’, Steve Reed claims September 5, 2024 Steve Reed has claimed that toughening up water regulation will “attract global investment” to rebuild the UK’s sewage and pipeline infrastructure. The environment secretary today insisted his efforts to reform the under-fire industry—including the threat of prison time for rogue water bosses—would create “growth and opportunity.” It comes after Reed unveiled the Water (Special Measures) [...]
Water bosses risk prison time as government launches crackdown September 4, 2024 Bosses of water companies who obstruct watchdog investigations could face up to two years behind bars, as the government unveils tough new laws to ramp up enforcement. The Water (Special Measures) Bill was introduced in Parliament on Wednesday and will grant sweeping new powers to the Environment Agency (EA), the Drinking Water Inspectorate and Ofwat [...]
Water firms’ industry body: Dividend payouts haven’t affected infrastructure investment September 1, 2024 Water companies would be in a similar state today even if they hadn't paid out millions in dividends, the boss of their industry body claimed.
Water firms warn of ‘material risk’ to stopping sewage leaks with Ofwat bill cap August 28, 2024 Plans to cap water bill increases at £19 per year would prevent suppliers from raising enough cash to improve performance, Water UK said.