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The Latest Breaking News from Ofwat

Creditors in High Court row over Thames Water restructuring plans

Thames Water, England’s biggest water company, will run out of money by March if restructuring plans are not approved.

The Independent UK

Thames Water could run out of cash by March next year, High Court told

Thames Water, England’s biggest water company, will run out of money by March if restructuring plans are not approved

Evening Standard

Watchdog warns Defra and Ofwat they could face court over sewage dumping

Environment Agency also served notice after investigation found failures to comply with law

The Guardian - UK

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Government breached environmental rules over sewage overflows, watchdog finds

The Environment Department and regulators have two months to confirm they will take required steps to remedy the situation – or face court.

The Independent UK

Government breached law by allowing water firms to discharge sewage, watchdog finds

The regulator has sent a notice to each of the authorities setting out steps it wants to see taken to put the situation right

The Independent UK

Customer compensation for water supply problems to increase from next year

Customers who suffer problems like low water pressure could receive payments of up to £250 – compared to the £25 currently available, Defra said.

The Independent UK

Swimming status of Ilkley’s River Wharfe in limbo over sewage pollution

Stretch of river in West Yorkshire was first to get bathing status in 2020 but has since recorded poor water quality

The Guardian - UK

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Households ‘to be hit with hike in water bills of at least 20 per cent’ sparking backlash

Environment secretary argues increase needed to fix UK’s sewage system ‘broken’ by Tories

The Independent UK

Water companies urged to step up help on bills for vulnerable customers

Regulator poised to reveal steep price rises as campaigners in England and Wales fear water will become unaffordable

The Guardian - UK

Public anger over water bill rises is justified, says UK environment secretary

‘Complete reset’ of water industry needed in face of poor service, pollution and leaks, says Steve Reed

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 debt hits £15.8bn but boss hails turnaround progress

The crisis-hit utility reported a jump in pollution incidents and said a ruling by Ofwat later this month will be fundamental to its future

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

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The Independent UK

Thames Water reports 40% rise in pollution incidents as debts swell

The company blamed an especially wet spring and summer as it reported 359 pollution incidents during the period.

The Guardian - UK

Struggling Thames Water receives £5bn buyout offer from Covalis

Deal would result in France’s Suez Group being brought in to manage restructure of water company

Evening Standard

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.

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The Guardian - UK

Water firms push for higher shareholder returns as Ofwat considers bills increase

Companies say higher returns are needed to ensure record infrastructure investment across industry is delivered

Evening Standard

Too many households let down and abandoned after sewer floods – report

Some customers had to clean up sewage themselves, with compensation often not covering the costs according to Ofwat and the CCW.

The Guardian - UK

Water companies in England ‘using loopholes’ to avoid paying for outages

Ofwat CEO says rules must be changed so that customers left without water get compensation automatically

Evening Standard

Ofwat boss denies failing to regulate water firms despite huge debts

David Black said water companies need to make ‘changes across the board’ but he ‘wouldn’t agree’ that regulators have failed.

The Guardian - UK

Water watchdog is chasing its tail on executive bonuses

Ofwat hasn’t stopped recipients getting their bonuses but its increased powers in other areas are meaningful

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 Independent UK

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses

Thames Water is among nine firms that must ensure owners and shareholders pick up the tab for £6.8 million of executive bonuses.

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