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The Latest Breaking News from Thames Water

Where will there be a hosepipe ban in the South East?

Two water companies have announced hosepipe bans during England’s drought conditions

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

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

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Where in the UK is in drought - and will it spread to the rest of the country?

Thames Water has warned it could introduce a hosepipe ban unless water shortages ‘change significantly’

The Independent 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

Will there be a hosepipe ban in London? South East Water ban comes into force in Kent and Sussex

As hosepipe bans comes into force in some areas, does this include London?

Evening Standard

London's 'super sewer' exec gets £600,000 pay rise whilst Thames Water customers foot the project cost

Thames Water customers are expected to foot the bill for the project through bills increases

Evening Standard

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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 receives further £1.2bn equity injection to bolster finances

The fresh equity come as part of a deal that will also see the debt owed to its holding company lenders slashed by more than half.

Evening Standard

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

What would happen if Thames Water is temporarily renationalised?

The government could put the struggling utility into a special administration regime – but what does this involve?

The Guardian - UK

Thames Water court case shows there are alternatives to massive infrastructure

It is what we might call the HS2 fallacy: new reservoirs as tall as high-rise buildings that boost water companies’ assets

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

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The Guardian - UK

Thames Water renationalisation plans being stepped up, says minister

Environment secretary indicates that calls from creditors for leniency from fines and penalties will be rejected

Evening Standard

Pollution fines of more than £100m will go to environmental projects, Defra says

Concerns had been raised the cash from fines on water companies would not be ringfenced for schemes such as river restoration.

The Guardian - UK

AI boom means regulator cannot predict future water shortages in England

Datacentres, which do not have to report amount of water used to cool servers, leave Environment Agency with no idea of shortfalls

The Guardian - UK

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

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The Guardian - UK

Thames Water must be held to account

Letters: The assets of those who accrue wealth through the degradation of the natural environment should be confiscated, writes David Humphreys

Evening Standard

US private equity giant KKR wins takeover battle for Assura in £1.7bn deal

Assura said it had reached an agreement on a ‘best and final’ bid led by Kohlberg Kravis Roberts and Stonepeak Partners.

The Independent UK

US private equity giant KKR outbids rival with £1.7bn offer for Assura

Assura said it had reached an agreement on a ‘best and final’ bid led by Kohlberg Kravis Roberts and Stonepeak Partners.

The Guardian - UK

Put Thames Water into temporary state control, ‘junior’ creditors will argue

£5bn rescue plan would set ‘troubling precedent’, bondholders who face losing all of their money will say

The Independent UK

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 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

The Guardian - 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

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