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The Latest Breaking News from Thames

Ministers must hold the line on Thames Water. Administration is better than a bailout

It seems Thames is trying to scare the government into thinking the world will end if it falls into ‘special administration’

The Guardian - UK

Thames Water says it will raise base pay of bosses if Ofwat limits bonuses

Struggling water firm tells regulator for England and Wales proposals would make it hard to attract talent to sector

The Guardian - UK

Revealed: Thames Water diverted ‘cash for clean-ups’ to help pay bonuses

Exclusive: UK’s biggest water company assessed risks before cutting back on cost of environmental work, investigation shows

The Guardian - UK

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Ofwat opts for expediency. It’s time for water companies to stop bleating

Water bill increases are at about the level most firms requested – but not so for beleagured Southern and Thames

The Guardian - UK

Thames Water to pay £18m penalty after breaking dividend rules

Regulator says it will claw back £131m in ‘unjustified’ payments as it announces companies can increase bills by 36% by 2030

The Guardian - UK

Thames Water bills will surge by £152 over the next five years in new blow to London households

Company also fined £18 million by regulator for breaking rules on payment of dividends

Evening Standard

Bank of England leaves UK interest rates on hold in 6-3 split, knocking pound – as it happened

Final UK interest rate decision of the year, as Spain’s Navantia agrees a deal to purchase Harland & Wolff’s four shipyards

The Guardian - UK

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Thames Water to get green light to hike bills by more than a third by 2030

Exclusive: Long-awaited decision by water regulator Ofwat falls short of utility’s requested 59% rise

The Guardian - UK

Thames Water wins court approval to secure ‘critical’ £3bn cash lifeline

Decision came after protesters called on judges to block a financial bailout they say will cost customers £250 a year

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

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 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

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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 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

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

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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

Thames Water should explain its murky logic on fundraising

Transparency around this emergency process has been miserable as company looks for approval to borrow £3bn more

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

The Guardian - UK

Thames Water board split over two competing deals to save it from insolvency

Split comes despite chair’s preference for deal from group including US hedge funds Elliott Partners and Silver Point plus others

The Guardian - UK

Thames Water is desperate for cash. But board should still exploit bondholder rivalry

Jostling for position before eventual debt-for-equity swap gives opportunity to fight for £3bn lifeline with least worst terms

The Independent UK

Thames Water creditors try to rally more investors for £1.5bn rescue funding

The water company’s lenders, including investment giants BlackRock, Abrdn and M&G, want more firms to take part in their rescue funding deal.

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