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.
Thames Water: Ofwat proposals ‘not tenable’ with supplier’s recovery as new bill hikes planned August 28, 2024 Debt-laden Thames Water has appealed to Ofwat to sign off on a five-year business plan to make it "investible."
Thames Water: Ofwat hunt for independent ‘monitor’ already under way August 23, 2024 Ofwat’s search for an independent ‘monitor’ who will report on Thames Water’s progress and have access to company information is already under way, City A.M understands. The new appointment is part of a string of new measures that Thames has signed up to in order to avoid a hefty fine for breaching its licence conditions, [...]
Mark Kleinman: Britain’s fibre infrastructure proves hard to digest August 22, 2024 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City A.M. column. Today, he looks at the UK’s altnet sector, a jilted housebuilder and Thames Water’s leaky boardroom. Britain’s fibre infrastructure proves hard to digest Time to hang up? That’s the way many investors feeling about [...]
UK water firms could face £2bn in fines over next five years, Moody’s warns August 15, 2024 UK water companies could be hit with a total of roughly £2bn in fines over the next five years, Moody's has estimated, warning that more demanding proposals from the industry regulator increase risk in the sector.
Water regulator welcomes plan to boost customer compensation August 12, 2024 The water industry watchdog has said it “welcomes” the government’s plan to increase compensation for customers receiving poor services from water companies.
Thames Water handed more special measures from Ofwat after credit rating downgrade August 7, 2024 Thames Water will be made to appoint an independent monitor and develop a “suitable” turnaround plan as part of a raft of new measures from the regulator after the its credit rating was downgraded. Ofwat said that the recent decisions from Moody’s and S&P – two of the world’s largest credit ratings agencies – to [...]
Thames Water fined £104m over wastewater failures in landmark Ofwat investigation August 6, 2024 Three water companies are facing fines totaling £168m for failing to properly manage their wastewater treatment works and networks, Ofwat has announced today.
Moody’s slaps Thames Water’s debt with ‘junk’ rating July 24, 2024 Moody’s Ratings has lowered Thames Water’s highest tranche of debt to 'junk' in another blow to the struggling water firm.
Ofwat is now investigating all eleven of England and Wales’ water companies July 16, 2024 Ofwat is opening enforcement cases into four more water companies in a move that means it is now investigating every single water and wastewater company in England and Wales for the mismanagement of their networks and water treatment.