Thames Water lenders offer £17bn plan, push Ofwat for ‘regulatory reset’ Transport and infrastructure A group of Thames Water’s major creditors have put forward a sweeping, multibillion-pound rescue deal, while calling for forgiveness of historic fines from Ofwat. Major investment firms, including Aberdeen and Elliott Management, are among the investors, who have said they have “the funding and experience required to deliver a transformation of the company’s performance which is intended [...]
Thames Water: What next after KKR walks? Transport and infrastructure 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 Politics 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 [...]
Record 81 criminal investigations opened into water firms May 20, 2025 Over 80 criminal investigations into water firms have been launched since the general election, which if proven could leave bosses facing five years in jail and firms on the hook for hundreds of millions of pounds, the environment watchdog has said. The Environment Agency has used new powers handed to it by the government to [...]
‘Productivity argument’ against family firm tax breaks, IFS director argues February 25, 2025 There is a “productivity argument” against treating family businesses “generously”, the Institute for Fiscal Studies (IFS) director has argued, when asked about inheritance tax. Economist Paul Johnson addressed the National Farmers Union (NFU) conference in Westminster on Tuesday, which saw environment secretary Steve Reed’s speech interrupted by farming protestors, as well as NFU president Tom [...]
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.
Column: Water, water everywhere… October 23, 2024 Or why the latest twist in the sewage tale suggests a rebalancing of Labour’s priorities England’s water system made a splash again this week, hitting the headlines as the government announced their latest move to – as they put it – clean up the industry. An independent review, led by none other than the former [...]
Scrapping Ofwat could be considered by new water sector commission October 22, 2024 Scrapping watchdog Ofwat could be considered by a new independent commission on the water sector as ministers aim to attract investment into the industry. Ministers have launched the largest review of the sector since it was privatised, with the commission set to be chaired by former deputy Bank of England Governor Sir Jon Cunliffe. It [...]
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.
Water investment bosses meet ministers amid hunt for fresh funding September 10, 2024 Ministers have held talks with bosses of water industry investment firms in a bid to attract fresh capital to the scandal-hit sector. Environment secretary Steve Reed held a roundtable with roughly 30 people representing investors in the sector such as pension funds on Tuesday in the City of London. Reed said he wants the water [...]