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The Latest Breaking News from Ofwat

Public anger over water bill rises is justified, says UK environment secretary

‘Complete reset’ of water industry needed in face of poor service, pollution and leaks, says Steve Reed

The Guardian - UK

Thames Water boss defends bonuses and repeats calls for steep bills hikes

Chris Weston’s comments come ahead of a crunch Ofwat decision next week on whether Thames Water can increase consumer bills by 59%.

The Independent UK

Thames Water boss defends six-figure bonuses and pushes for steep bills hikes

Chris Weston’s comments come ahead of a crunch Ofwat decision next week on whether Thames Water can increase consumer bills by 59%

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Thames Water debt hits £15.8bn but boss hails turnaround progress

The crisis-hit utility reported a jump in pollution incidents and said a ruling by Ofwat later this month will be fundamental to its future

Evening Standard

Thames Water will run out of cash by March without £3bn emergency funding

Britain’s biggest water supplier reports 40% increase in pollution incidents, blaming a wet spring and summer

The Guardian - UK

Thames Water reports 40% rise in pollution incidents as debts swell

The company blamed an especially wet spring and summer as it reported 359 pollution incidents during the period.

The Independent UK

Struggling Thames Water receives £5bn buyout offer from Covalis

Deal would result in France’s Suez Group being brought in to manage restructure of water company

The Guardian - UK

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Thames Water receives buyout offer from investment group Covalis Capital

The plans would see French water firm Suez brought in to help run the company while Covalis breaks Thames Water up into smaller chunks.

Evening Standard

Investors line up ahead of Thames Water deadline for £3.3bn equity raise

Castle Water is said to be among those planning to put in potential bids for an equity cash injection into Thames Water.

Evening Standard

Water firms push for higher shareholder returns as Ofwat considers bills increase

Companies say higher returns are needed to ensure record infrastructure investment across industry is delivered

The Guardian - UK

Too many households let down and abandoned after sewer floods – report

Some customers had to clean up sewage themselves, with compensation often not covering the costs according to Ofwat and the CCW.

Evening Standard

Water companies in England ‘using loopholes’ to avoid paying for outages

Ofwat CEO says rules must be changed so that customers left without water get compensation automatically

The Guardian - UK

Ofwat boss denies failing to regulate water firms despite huge debts

David Black said water companies need to make ‘changes across the board’ but he ‘wouldn’t agree’ that regulators have failed.

Evening Standard

Water watchdog is chasing its tail on executive bonuses

Ofwat hasn’t stopped recipients getting their bonuses but its increased powers in other areas are meaningful

The Guardian - UK

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Evening Standard

Which water companies are in financial trouble – and which paid out bonuses?

As regulators try to clamp down on water company bonuses, the PA news agency breaks down what is going on at each firm around the country.

The Independent UK

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses

Thames Water is among nine firms that must ensure owners and shareholders pick up the tab for £6.8 million of executive bonuses.

The Guardian - UK

Water companies blocked from paying bonuses out of customer money

Regulator uses new powers to ensure investors pay at Thames, Yorkshire, and Dŵr Cymru Welsh Water

Evening Standard

Scandal-hit Thames Water blocked from paying 'undeserved' bonuses for top bosses from customers' money

Eight other water firms won’t be using customers’ funds to pay bonuses

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news in one place.

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Evening Standard

Nine water firms halted from using customer cash to pay for £6.8m of bonuses

Ofwat said its new powers had been applied to bonuses worth £6.8 million, or 73% of the overall total, across the water sector.

The Independent UK

Water firms blocked from using customer cash for ‘undeserved’ £6.8m boss bonuses

Watchdog stops nine from from funding bonuses through customers – but bosses will still get their cash from shareholders

Evening Standard

Severn Trent profits nearly triple despite non-compliance risk on water quality

The company serves about 4.6 million homes and businesses across the Midlands and Wales.

Evening Standard

Southern Water gets rating downgrade amid ‘challenging funding conditions’

Southern’s latest downgrade by Fitch follows a similar move by ratings agency Moody’s earlier in November.

The Independent UK

Thames Water: Fears of more bill hikes as £38bn bill revealed

A new report has said Thames Water is in worse financial straits than already thought

The Guardian - UK

Thames Water’s IT ‘falling apart’ and is hit by cyber-attacks, sources claim

Exclusive: Company relies on obsolete tech and there are troubling security gaps, Guardian investigation suggests

The Guardian - UK

Floods, explosions and asbestos: Thames Water faces potential problems on all fronts

Exclusive: Senior managers say they are forced to press ahead with orders for vital items without approval

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