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The Latest Breaking News from Ofwat

Water company agrees to pay £24 million after sewage leaks

The company agreed to pay the enforcement package after Ofwat’s investigation found a ‘range of failures’

The Independent UK

South West Water agrees to pay £24m after watchdog finds wastewater leaks

Ofwat said its investigation found a ‘range of failures’ in how the water company managed its wastewater treatment works and sewer network.

Evening Standard

Thames Water Under Fire After Emergency Loan Was Given As 'Extravagant' £2.5m Bonuses

Thames Water used funds from an emergency loan to pay £2.46 million in bonuses to 21 managers, despite the loan being intended to keep the troubled company afloat.

International Business Times UK

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Thames Water refuses to claw back bonuses paid using £3bn emergency loan

Money was paid out from loan meant to stabilise firm’s finances weeks before it paused retention payments plan

The Guardian - UK

Thames Water bosses recalled before MPs to face grilling on bonuses and rescue

Ofwat has confirmed that £2.5 million of bonus payments made to 21 senior Thames Water executives in April cannot be clawed back.

Evening Standard

Macquarie digs deeper for redemption at Southern Water. There was no alternative

Infamous former owner of Thames Water coughs up more capital in bid to turn around badly performing utility

The Guardian - UK

Southern Water owners to invest up to £1.2bn in troubled utility

Australia’s Macquarie leads consortium putting up funds to help firm avoid breach of regulatory licence

The Guardian - UK

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The UK is getting drier. Could reusing greywater help?

Experts say the average Briton uses too much water per day and societal change needs to start today to tackle looming water crisis

The Guardian - UK

Thames Water lenders demand government effectively block campaigners from legal action

Creditors owed £13bn say ministers should prioritise ‘environmental betterment over punitive enforcement’

The Guardian - UK

Government will not be lenient with Thames Water creditors, suggests Reed

The company’s creditors have asked regulators to go easy over performance targets and fines for environmental failings.

Evening Standard

Ofwat should have to approve water firms’ bonuses and dividends, say MPs

Report says billpayer funds are being used irresponsibly, after news that Thames Water paid bonuses from £3bn loan

The Guardian - UK

Water sector needs ‘root-and-branch’ reform, MPs say

The Environment, Food and Rural Affairs committee have said that the industry is ‘failing’ but water companies are ‘deaf to the crisis’.

Evening Standard

Thames Water lenders offer £17 billion rescue deal in return for looser rules

The deal would also see “several billion” pounds’ worth of debt written off

The Independent UK

Thames Water’s creditors are being too greedy

If group of lenders has any prospect of getting its proposal to fly, some of its big numbers will have to look very different

The Guardian - UK

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The Guardian - UK

Thames Water creditors offer up £5bn as part of emergency turnaround plan

Regulator Ofwat concerned that plans do not write off enough debt to secure investment-grade credit rating

Evening Standard

Creditors table £17bn plan for Thames Water but call for regulatory leniency

The lenders in the utility are proposing to invest another £3 billion in new equity and £2 billion of funding, but also write off billions of debt.

The Guardian - UK

MPs ask minister if he will claw back Thames Water executive bonuses

Chair of troubled firm admits 21 senior managers were paid 50% of base salary on 30 April

The Guardian - UK

Bidders demand Thames Water granted immunity over environmental crimes

Exclusive: ‘Ransom note’ requests would leave Environment Agency unable to prosecute company or management

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Advnture

Is the tide turning for wild swimmers? Lawmakers step in to block bonuses for English water bosses behind surging lake and river pollution

Weeks after Thames Water was fined £123 million for pollution and questionable payouts to investors, the UK government has banned bonuses for many of the nation's water company executives

Evening Standard

Water firms would be foolish to increase salaries to get around bonus ban – Reed

Six firms have been banned from paying bonuses to senior bosses under new rules that came into force on Friday.

The Independent UK

The water firms banned from paying bonuses to senior bosses under new laws

Campaign group River Action have called the move a “welcome step” but said that increased salaries should be prevented

The Independent UK

Six water companies banned from paying bonuses to senior bosses

New rules ban bonuses if a water company does not meet environmental or consumer standards or does not meet financial resilience requirements.

Evening Standard

Northumbrian Water to pay out £15.7m after sewage and water network failings

Bosses at the watchdog Ofwat said the company’s failures led to ‘excessive spills from storm overflows’.

The Guardian - UK

A race against time: what now for Thames Water after rescue deal collapses?

Huge group of creditors in scramble as prospect of temporary nationalisation looms large for troubled firm

Evening Standard

Thames Water creditors warn of "short and closing window" to agree rescue deal

A group of more than 100 creditors holding £13 billion of Thames Water debt said time is running out

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