Yorkshire Water forced to pay out £40m after ‘serious failures’ March 20, 2025 Yorkshire Water will have to pay out a £40m “enforcement package” to address a series of “serious failures” in its maintenance of sewage networks. The water supplier will pay out £36.6m over the next five years after the water watchdog Ofwat found repeated failures to properly invest in infrastructure. Environmentally sensitive areas will be targeted [...]
The Capitalist: Feisty wonks, the Tooth Fairy and a CEO under citizen’s arrest March 20, 2025 Wonks at the CPS get feisty, the Tooth Fairy cuts costs and a CEO under citizen's arrest; catch up on the latest drama in The Capitalist.
Thames Water says it has received six takeover offers March 18, 2025 Thames Water has said it has received six takeover offers and hopes to agree a deal by the end of June. The offers come in response to an equity raise process launched by the UK’s biggest water supplier last summer. Crisis-hit Thames Water has been battling to stave off nationalisation amid debts of more than [...]
Thames Water: Challenge to £3bn emergency loan dismissed by Court of Appeal March 17, 2025 An appeal against a £3bn rescue package for Thames Water has been dismissed following a three-day hearing last week. The Court of Appeal’s ruling on Monday averts the possibility of the UK’s biggest water supplier being placed into special administration (SAR). But critics argue the £3bn emergency loan from a group of Class A creditors [...]
Thames Water: Emergency loan should not have been approved, court told March 11, 2025 A £3bn emergency loan that temporarily averted Thames Water’s special administration should not have been approved, a court has been told. The Court of Appeal on Tuesday heard the terms of the agreement were “mispriced and inappropriate.” Thames Water, which serves around 16m customers in the UK, has been battling to stave off collapse amid [...]
Thames Water: Hong Kong’s CK Infrastructure makes £7bn swoop February 21, 2025 Hong Kong’s CKI Infrastructure has submitted a £7bn bid for a majority stake in the embattled utility Thames Water. The Financial Times reported CKI, which is part of the wider CK Hutchison group, made a non-binding offer for Thames earlier this month. CKI has indicated it would inject £7bn to ease the debt-laden company’s financial [...]
Thames Water: KKR makes £4bn offer for majority stake February 19, 2025 KKR has offered £4bn for a majority stake in the crisis-hit utility Thames Water, according to a report. Sources close to the matter told Bloomberg that KKR had no plans to sell any assets should its offer succeed. Deliberations are ongoing, and there is a guarantee a transaction will happen, they added. The US asset [...]
Thames Water restructuring plan approved by High Court February 18, 2025 Thames Water’s restructuring plans have been approved by the High Court, giving the beleagured utility a lifeline to avoid temporary nationalisation. The UK’s biggest water supplier had been set to run out of money by 24 March without a £3bn loan from its creditors, amid debts of more than £19bn. Such an outcome would have [...]
Thames Water asks watchdog to let it charge even higher bills February 14, 2025 Thames Water is asking the competition regulator to allow it to charge customers even more over the coming years than had previously been granted. The company has already been allowed a 35 per cent rise in consumer bills over the next five years by water regulator Ofwat, after Thames had previously lobbied for a 59 per cent hike. Now, it wants [...]
Thames Water investigated over failure to finish 100 environmental schemes on time February 12, 2025 Thames Water is facing an investigation from the industry regulatory after failing to deliver more than 100 environmental improvement schemes on time. Ofwat said on Wednesday it had opened an enforcement case into the embattled utility to determine whether it had breached its obligations. Thames Water committed to deliver 812 schemes as part of the [...]