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The Latest Breaking News from Thames Water

Thames Water’s owners only have themselves to blame for the writedowns

It looks as if USS simply overpaid and underestimated the effort and catch-up investment required

The Guardian - UK

Thames Water’s second largest investor slashes value of its stake

USS’s write-down of almost two-thirds comes after utility admitted it cannot afford debt repayments

The Guardian - UK

A Farage farrago, crypto crime and rivers of cash: the 2023 Observer business awards

Bank boss Alison Rose, Binance’s Changpeng Zhao, Sarah Bentley of Thames Water and OpenAI’s Sam Altman feature highly on this year’s prestigious honours list

The Guardian - UK

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Gales threaten New Year’s Eve travel chaos in England and Wales

Bad weather in southern England, the West Country and south Wales likely to cause further disruption

The Guardian - UK

Eurostar Channel services restarting on Sunday as flooding is cleared

Tunnel under Thames near Ebbsfleet was closed not by weather but burst pipe, with Southeastern railway also affected

The Guardian - AU

New Year’s travel chaos as Eurostar and Southeastern trains cancelled over Thames tunnel flooding

Cross-Channel train operator apologises for mass cancellations on final weekend of year - but says services will resume on Sunday

The Independent UK

New Year plans ruined for thousands of travellers after Eurostar tunnel flooding chaos

Passengers tell of upset after New Year's plans thrown into disarray over Eurostar cancellations

Evening Standard

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Homes in Jeremy Hunt's constituency hit by Boxing Day water shortage, Thames Water confirms

The Chancellor called the supply issues 'hugely inconvenient'

Evening Standard

Water firms use up to 28% of bill payments to service debt in areas of England

As English water companies plan to hike bills, the Guardian reveals customers are paying a high price for combined debts of £60bn

The Guardian - UK

Thames Water owner hit by second credit rating downgrade in six months

Moody’s move comes as it warns of ‘materially’ increased risks that regulators will block dividend flow

The Guardian - UK

Thames Water appoints Chris Weston as boss with up to £2.3m package

Former British Gas executive tasked with leading turnaround in face of debts and controversy over sewage

The Guardian - UK

Thames Water appoints Chris Weston as £850,000 a year CEO

Former boss of FTSE 250 power company Aggreko will run London's 15 million customer utility from 8 January

Evening Standard

If Thames Water has to be nationalised, so be it. Ofwat should not be bullied

MPs should demand shareholders invest on fair terms for customers. If they refuse, they should be wiped out

The Guardian - UK

Thames Water Says Needs More Time For Financial Turnaround

Struggling UK utility firm Thames Firm needs more time to turn around its fortunes after announcing a slump in profits and mounting debt, one of its bosses said Tuesday.

International Business Times

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The Guardian - UK

Thames Water apologises to MPs for ‘confusion’ over £500m loan

Labour MP calls firm’s finances an ‘absolute shambles’ as Ofwat vows it is prepared to put it into administration

The Guardian - UK

Thames Water apologises after 200 tankers of raw sewage left in Surrey town

Raw sewage held in open tanks in Camberley for six months during hottest summer on record

The Guardian - UK

More good intentions from Thames Water but where’s the owners’ new capital?

Shareholders promise more capital for investment but customers will believe it when they see it

The Independent UK

Thames Water investigated by regulator Ofwat over dividend payment

Regulator asks if £37.5 million payment breached embattled supplier’s licence requirements

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The Guardian - UK

Ofwat investigates whether Thames Water dividend is licensing breach

Exclusive: Debt-laden water supplier says it has paid £37.5m dividend from operating company

The Guardian - UK

Thames Water to face MPs over fears it could run out of money by April

Committee chair raises concerns as Lib Dem leader describes company as ‘a slow moving car crash’

The Guardian - UK

Thames Water told by auditors it could run out of money by April

Company is expected to face further scrutiny over its debt when it publishes its results on Tuesday

The Guardian - UK

Ofwat accused of ‘meaningless gesture’ after reducing Thames Water penalty

Regulator cuts amount company will have to pay for underperformance by almost £5 for each customer

Evening Standard

Water companies to pay millions to customers: check if you're eligible and how to claim

Under fire companies set to be paying out

Evening Standard

Thames Water told to give back £74million to customers after poor performance

The amount watchdog Ofwat has told the water company to return is the highest in the UK

The Guardian - UK

Campaigners warn against Thames Water’s £250m effluent ‘recycling’ scheme

Scheme would involve abstracting water from the River Thames at Teddington and replacing it with treated sewage

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