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The Latest Breaking News from Ofwat

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

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.

Evening Standard

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

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 Independent 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

The Guardian - UK

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

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.

Evening Standard

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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

The Independent UK

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.

Evening Standard

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 Independent 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

The Guardian - UK

Thames Water supply ‘on knife-edge’ with £23bn repairs needed

Exclusive: Company has failed to tackle serious safety concerns or upgrade vital IT systems, Guardian investigation reveals

The Guardian - UK

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The Guardian - UK

‘It’s a national disgrace’: fury at sewage-filled Windermere over toxic algae and dead fish

Campaigners blame United Utilities for blighting famous lake with raw effluent

The Independent UK

United Utilities raises shareholder payout despite Windermere pollution

Company said it was ‘making progress’ on reducing pollution, after reports that it illegally pumped millions of litres of sewage into the lake.

The Guardian - UK

Southern Water’s debt downgraded to junk status by Moody’s

Company close to technical default on some of its debt, underlining UK industry’s precarious state

The Guardian - UK

Thames Water gains key support from creditors for £3bn funding lifeline

Utilities firm says 75% of class A bondholders back emergency package aimed at staving off collapse

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Evening Standard

Ofwat launches new standards to improve services for vulnerable customers

Ofwat is also set to make a final decision on household water bill increases on December 19.

Evening Standard

Two in five households will struggle with water bill increases, report warns

The figure is more than double the 18% who say they have difficulty paying their current bill, the Consumer Council for Water said.

Evening Standard

Thousands expected to march through London to demand cleaner water

The March for Clean Water will see will see protesters will meet at the Albert Embankment on Sunday before a rally in Parliament Square.

The Guardian - UK

Revealed: water firms in England ‘passed’ pollution tests that were never carried out

Self-monitoring regime will change to plug loophole that allowed failing sewage plants to pass pollution checks

Evening Standard

Thames Water: Why does the struggling water firm need emergency funding?

Thames Water has said it is seeking up to £3 billion in emergency loans in order to stay afloat until at least October next year.

The Guardian - UK

Struggling Thames Water pushes for £3bn lifeline with cash due to run out in December

Fresh funds are ‘liquidity bridge’ to stabilise firm and give it time to secure long-term investment, says boss

Evening Standard

Thames Water reveals £3 billion emergency financing plan to keep it solvent until October 2025

Proposals could provide Thames with up to £3 billion of lifeline cash

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