East London water outage: “Intermittent supply” this morning but services returning October 6, 2020 Thames Water have confirmed to City A.M. that supplies are “now returning” to thousands of east London homes after an outage that began Tuesday afternoon. However the supplier warned of an intermittent supply as “it will take some time to fully recover as pressure in the network rebuilds.” The outage has been traced to a [...]
South West Water owner sees shares rise as investors soak up positive update September 25, 2020 Share in South West Water owner Pennon Group rose this morning after it confirmed trading was in line with expectations.
Water firms prepare to flood watchdog with complaints after final Ofwat ruling December 15, 2019 Britain’s water companies are getting ready to launch a deluge of complaints against Ofwat, after the regulator publishes its final financial demands for the industry over the next five years. The regulator stunned the industry in July, when it rejected all but three leading suppliers’ business plans for 2020-2025, in a bid to clean up [...]
Thames Water hires advisers on £12bn debt ahead of crucial Ofwat ruling December 14, 2019 Thames Water has hired restructuring experts from Gleacher Shacklock ahead of a crucial ruling from industry watchdog Ofwat. The UK’s biggest water supplier has called in the experts to advice on its £12bn pile of debt amid concern about the impact of a regulatory crackdown on its finances, according to Sky News. Read more: Thames [...]
Bog off: Fatberg finally cleared from Greenwich sewer by Thames Water engineers October 29, 2019 A fatberg the size of a London red bus has been cleared from a sewer by Thames Water engineers – who pulled some of it out by hand. The 40-tonne mass of fat, grease and other waste, was found earlier this year clogging up a Greenwich sewer. Workers at Thames Water spent three weeks trying [...]
Water giants on collision course with Ofwat ahead of crunch ruling October 27, 2019 Some of the water industry’s most prominent investors are said to have complained to the Treasury that regulator Ofwat is becoming politicised. Investors that control suppliers including Anglian, Yorkshire, Affinity, South East and South Staffs reportedly met with officials this month, in a bid to pre-empt Ofwat’s final publication of its financial demands for the [...]
Thames Water execs pocket £800k bonus as 650 jobs at risk July 4, 2019 Top Thames Water executives are set to pocket nearly £800,000 in bonuses this year as the utilities firm prepares to cut 650 jobs. Thames Water yesterday announced that 350 employees could be made redundant and a further 300 roles may be phased out through an employment freeze and the termination of contractor roles. Read more: [...]
Thames Water chief executive Steve Robertson steps down May 25, 2019 Steve Robertson has stepped down as the chief executive of Thames Water with immediate effect. Robertson was unsuccessful in his attempts to turn around the performance of the failing utilities company. Read more: United Utilities profits up as it worries over nationalisation uncertainty The firm are now said to be looking for someone with a [...]
Thames Water outlines refund policy if Labour nationalise utilities April 13, 2019 Thames Water has told investors they will be able to demand a refund if Labour come into power and nationalise the utility after inserting a new clause into to its outstanding bonds. In a stock market document to the Irish Stock Exchange, the company outlined Labour's policies of renationalising water, among other utilities like gas and electricity, as [...]
Thames Water unveils £1bn tech investment in bid to boost efficiency March 26, 2019 Thames Water has unveiled plans to invest £1bn in new technology for its water and waste operations in a bid to boost efficiency by 20 per cent. The investment, which will be rolled out over the next six years, will help boost the utility company’s data management for a range of issues such as fixing [...]