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The Latest Breaking News from Ofwat

Thames Water lenders submit new rescue plan to avoid nationalisation

The London & Valley Water group of creditors has outlined plans to write off around £4 billion, or 25%, of the debt they hold in Thames Water.

Evening Standard

Thames Water creditors ask for up to 15 years’ leniency from river pollution rules

Lenders say a ‘full return to legal, regulatory and environmental compliance’ under new rescue plan would not be completed until at least 2035-2040

The Guardian - UK

Thames Water lenders propose new rescue deal to prevent collapse

London & Valley Water hope to eventually float Thames Water on the stock market after turning around the firm’s fortunes.

Evening Standard

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Pennon to return to profitability despite pressure from summer heatwave

The South West Water owner said it expects earnings to increase by 60% year-on-year.

Evening Standard

UK public has paid £200bn to shareholders of key industries since privatisation

Analysis reveals ‘privatisation premium’ of £250 per household per year paid to owners of water, rail, bus, energy and mail services since 2010

The Guardian - UK

Thames Water paid £1m-plus to corporate spooks firm part-owned by Starmer adviser

Exclusive: Hakluyt – formerly run by Varun Chandra – has been advising utilities company as it tries to avoid renationalisation

The Guardian - UK

Surfing competition cancelled after raw sewage dumped into sea

Organisers of the English Interclub Surfing Championships say they were forced to call off the event after a red flag was raised following a sewage discharge into the sea

The Independent UK

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The best and worst performing water companies revealed by watchdog

Household complaints to the Consumer Council for Water have surged to a nine-year high

The Independent UK

Household complaints to water watchdog soar to highest level in nine years

The increasing number of complaints comes amid the steepest bill rises since the privatisation of the industry.

Evening Standard

Anglian and South West Water to pay out £86m over wastewater spills

Ofwat said failures by the firms to maintain storm overflows and their sewage networks were ‘unacceptable’.

Evening Standard

Two major UK water companies to pay out £86m over wastewater spills

Ofwat said it found a ‘range of failures’

The Independent UK

Rescue plan at Thames Water is still too murky

Creditors’ breezy description of their proposal gives a few selected highlights but lacks anything to reassure the poor old customers

The Guardian - UK

Thames Water to do fewer improvement projects under lenders’ new rescue plan

New consortium says infrastructure projects must be cut back to make beleaguered company viable again

The Guardian - UK

Thames Water creditors outline £20.5bn investment aims under rescue plans

The London & Valley Water consortium is pledging to ‘fix the foundations’ of Thames Water with the mammoth spending proposal put forward to Ofwat.

Evening Standard

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The Independent UK

Thames Water unveil £20.5 billion action plan to revive struggling water firm

Thames Water is on the brink of nationalisation as it struggles under a mountain of debts

The Guardian - UK

English water firms spend £16.6m on legal fees over environmental breaches

MPs on Commons committee describe figures as a waste and say money should have been used to fix infrastructure

Evening Standard

Welsh Water hires former Sydney Water executive as new boss

Dwr Cymru Welsh Water, which supplies water to most of Wales, Deeside and Herefordshire, appointed Roch Cheroux as its new chief executive.

The Guardian - UK

Thames Water agrees payment plan for £123m sewage and dividend fines

Ofwat gives the company breathing space as it scrambles to secure funding to avoid nationalisation

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The Independent UK

Thames Water agrees new £122m fine payment plan amid concerns over its future

Campaign group River Action slammed it as a ‘sweetheart deal’

Evening Standard

Thames Water to pay fifth of record £122.7m fines by end of September

The remaining 80% is dependant on the financial security and future of the debt-laden water supplier, but a backstop has been set for March 31 2030.

The Guardian - UK

The only way to solve England’s water crisis

Letters: Dr Ruth Sinclair and Dr Jill Vincent suggest replacing Ofwat’s monetary fines with state-owned voti

The Guardian - UK

Ofwat – what are they thinking of?

Letters: A drought of ideas | Double-yolkers | Our beautiful launderettes | Good Friday dispute | Potato planting

The Guardian - UK

Thames Water: advisers appointed to plan for company’s potential collapse

FTI Consulting seen as frontrunner to advise on placing the utility into a special administration regime

Evening Standard

Mayors write to Yorkshire Water with ‘serious concerns’ over undisclosed CEO pay

The region’s four mayors said payments worth £1.3m made to boss Nicola Shaw via an offshore parent company were a ‘fundamental breach of trust’.

The Guardian - UK

England’s swimming waters five times more likely to be polluted than in EU, research finds

Experts warn country is in danger of becoming ‘dirty man of Europe’ as it falls to bottom of bathing water leaderboard

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