Regulator Ofwat rejects water firms’ five-year business plans for ‘failing customers’ January 31, 2019 Seven of the UK’s leading 10 water companies’ business plans for the next five years have been rejected by Ofwat because they do not “deliver for customers”. In the regulator’s initial assessment of industry players’ plans for 2020-2025, only three companies were given the green light. Four companies – Affinity Water, Hafren Dyfrdwy, Thames Water [...]
Profits plunge at Thames Water after extreme weather puts the pressure on pipes December 6, 2018 Thames Water’s half-year profits plunged by nearly 50 per cent today, as a combination of extreme weather and regulatory fines threw light on the mounting pressures that loom over one of Britain’s largest utility companies. The under-fire firm posted pre-tax profits of £67.7m in the six months to September, falling from £129m in the same [...]
Thames Water five-year, £1.4bn loan agreement gives incentives for going green December 4, 2018 Thames Water today announced it has signed a £1.4bn revolving credit facility which links interest rates to the company’s success in meeting its environmental responsibility targets for the next five years. In a move designed to rebuild public trust in the company after a series of scandals including a £20m fine last year for pumping [...]
These are the 10 projects vying for the title of London’s greatest infrastructure achievement October 26, 2018 The 10 projects in the running to be named London's greatest infrastructure achievement for this year have been revealed. The Institution of Civil Engineers has released the shortlist of 10 projects being considered for the top accolades, with awards being given out next month for the best infrastructure project, innovation, and community benefit. All projects [...]
Former Ofwat boss Ian Byatt calls London super-sewer a “real disaster” July 26, 2015 The huge sewer due to be built underneath the Thames next year has been described as a “real disaster” by a former head of Ofwat, the government's water regulation authority. Read more: London's super-sewer is safe from Ofwat's water bill reduction plan Sir Ian Byatt said the Thames Tideway Scheme, also known as the [...]
Fire crews called in after burst water main creates “river” in Kennington, TfL warns of severe delays to buses across south London June 29, 2015 Update: Around 15 properties have been flooded by the burst water main in Kennington, south London, which has been finally been brought under control. But that hasn't stopped travel disruption, with TfL warning that bus routes and drivers were still being caught in severe delays throughout Vauxhall, Pimlico, Stockwell, Camberwell, Old Kent Road, Elephant [...]
Balfour Beatty reveals £800m contract win from Thames Water February 2, 2015 Balfour Beatty has secured a major deal with Thames Water to maintain and install water infrastucture across the utility firm's network. The five-year project is a joint venture with Skanska and MWH Treatment (known as SMB). The contract as a whole is worth £800m and will be worth around £265m to Balfour Beatty. Once it has [...]
Row erupts over multi-million-pound bill for Farringdon floods as Network Rail and Thames Water fight over who is to blame January 29, 2015 A row has erupted over who is to blame for the floods that have disrupted train services across London on the Thameslink line for the past six days – and which look likely to last into next week. Yesterday Network Rail issued a statement saying Thames Water faced “a multi-million pound bill” for the [...]
Thames Water releases updated 12 Days of Christmas video as an “anti-fatberg” message December 15, 2014 If you're the sort of person for whom jolly Christmas songs can all get a bit sickly then Thames Water might just have the festive message for you. The utilities company – which has spent much of the year battling fatbergs in the city's sewers – has recorded a reworked version of the 12 [...]
Thames Water seeks investors to put money down the supersewer June 10, 2014 THAMES Water has begun its search for private sector financiers to help fund London’s new £4bn supersewer. The company, which is awaiting planning approval for the 25 kilometre Thames Tideway Tunnel, is inviting potential investors to bid for a stake in the scheme. The backers will take an equity share of a new utility company set [...]