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The Latest Breaking News from Ofwat

Don’t indulge the Thames Water whingers next week, prime minister

Labour should stand firm at its investors summit and remind attenders that the UK’s utilities sector is eminently investable

The Guardian - UK · Oct 9, 2024

English water system singled out for criticism by UN special rapporteur

Prof Pedro Arrojo-Agudo says regulator Ofwat ‘complacent’ about water firms putting their shareholders before public

The Guardian - UK · Oct 9, 2024

Water companies to pay £160m back to customers – how to get your share

Customers will get their refunds next year – but some will be given more than others

The Independent UK · Oct 8, 2024

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Water companies in England and Wales told to pay £158m penalty to customers

Ofwat says firms must lower bills next year after poor performance on issues such as sewage spills and leaks

The Guardian - UK · Oct 8, 2024

Shein’s UK profits double; Water companies penalised for poor performance; China targets EU brandy – as it happened

Rolling coverage of the latest economic and financial news, as UK gilt yields rise and water companies face paying £157m to customers

The Guardian - UK · Oct 8, 2024

Water companies ordered to return £158m to customers next year after missing key targets

For the second year in a row, no company achieved the top rating, although four companies did show an improvement from last year.

Evening Standard · Oct 8, 2024

Water companies must return £157.6m to customers over poor performance

Not one company has achieved the regulator’s top category, while three are in the lowest category of ‘lagging’

The Independent UK · Oct 8, 2024

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Southern Water seeks to borrow up to £4bn from investors

Move could increase pressure on utility companies turning to bond markets amid crisis at Thames Water

The Guardian - UK · Oct 7, 2024

Unresolved water complaints in England and Wales rise to near-decade high

Customer disputes over sewage spills, billing mistakes and water meters soar in past year

The Guardian - UK · Oct 3, 2024

Small firms face near-30% rise in water bills, Ofwat letter reveals

Businesses in England and Wales say they are paying for ‘historic errors’ by water suppliers

The Guardian - UK · Oct 1, 2024

Thames Water could be blocked from new debt financing next week

Troubled firm has until 7 October to agree to extension, according to holding company accounts

The Guardian - UK · Sep 30, 2024

Southern Water considers shipping supplies from Norwegian fjords to UK

Contingency plan using sea tankers to deal with future shortages would be paid for from customers’ bills

The Guardian - UK · Sep 26, 2024

Credit agencies slash their ratings on Thames Water debt

The move drags £16 billion of Thames Water debt even deeper into junk territory

Evening Standard · Sep 26, 2024

Six water firms in England ‘overcharged customers by up to £1.5bn’

Firms underreported true scale of sewage pollution for 10 years, which allowed them to set higher bills, tribunal told

The Guardian - UK · Sep 23, 2024

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The Guardian - UK · Sep 19, 2024

Thames Water trying to stay afloat by rewriting loan deals, says source

Firm in £15bn debt books November high court dates in effort to extend ‘liquidity runway’

The Guardian - UK · Sep 14, 2024

Billpayers in England and Wales tricked into ‘stealth bailout’ of water companies

Campaign group challenges industry regulator over price rises for customers that will pay to upgrade infrastructure

The Guardian - UK · Sep 10, 2024

Remainder of year’s water bills will pay dividends and service debts, say campaigners

We Own It says 31% of water bills went on shareholder payouts and company debts in last financial year, while the same percentage of 2024 remains

The Guardian - UK · Sep 9, 2024

Elliott, unlike Thames Water’s board, sees the inevitability of debt writedowns

Hedge fund’s reported purchase of £1bn of bonds at a big discount suggests growing realism about company’s future

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The Guardian - UK · Sep 6, 2024

The Guardian view on the regulatory state: Labour must put people before profit

Grenfell showed what can happen when human needs are disregarded. Tougher laws governing business are one answer

The Guardian - UK · Sep 4, 2024

Water bosses could be jailed if they cover up sewage dumping under new law

CEOs in England and Wales could face two years in prison under proposals to force firms to supply data quickly

The Independent UK · Sep 4, 2024

Water bosses could face prison time over dumping sewage into Britain’s rivers and lakes

Environment secretary Steve Reed is to tell an invited audience of water company executives that they will lose their bonuses and face prison if they continue pumping filth into rivers and lakes

International Business Times UK · Aug 31, 2024

Thames Water Wants To Hike Prices By Up To 59% In 2025: 'After Keeping Bills Low, Now Is The Time For Difficult Choices'

Thames Water proposes a controversial 59% hike in customer bills by 2025 to fund essential infrastructure upgrades, sparking concerns amid financial pressures on households and regulatory scrutiny.

The Guardian - UK · Aug 30, 2024

Thames Water lobbied Whitehall to press Ofwat on allowing higher bills

Exclusive: Debt-ridden company also warned officials of ‘chilling effect’ of any renationalisation

The Guardian - UK · Aug 28, 2024

Thames Water’s ‘difficult choices’ must include pain for bondholders

Customers know bills have to rise, but shareholders should also pay, as they would at a conventional company that overextended itself

The Guardian - UK · Aug 28, 2024

Thames Water says without steep bill increase it’s ‘neither financeable nor investible’

Debt-laden company tells Ofwat if it cannot charge customers 59% more, it ‘would prevent company turnaround and recovery’

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