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 [...]
Macquarie owned Southern Water looks to borrow billions October 7, 2024 The move to borrow more cash comes following months of crisis at Thames Water, the fall-out of which is spilling out across the sector.
Water lobby accused of ‘spin’ after claiming public lack knowledge October 1, 2024 The UK's biggest water companies have faced stinging criticism for the amount of sewage leaked into British rivers and seas in recent years.
Galliford Try nets £400m contract to deliver Wessex Water investment plan September 23, 2024 The UK construction group's environment arm will manage Wessex Water's capital delivery framework, which is valued at £3.7bn.
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 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 [...]
Water firms in England and Wales lost more than 1 trillion litres in leaks last year September 8, 2024 Water firms leaked over one trillion litres of water last year, new analysis from the Observer has revealed.
Thames Water creditors in funding drive to dodge special administration September 6, 2024 A group of Thames Water’s creditors are devising backup plans for a renewed injection of cash in a bid to prevent the firm from being effectively renationalised. The UK’s biggest water company is struggling under an £18.7bn debt crisis, and is in talks with lenders to provide it with fresh funding. The floundering utility firm [...]