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The Latest Breaking News from Ofwat

Thames Water’s ‘difficult choices’ must include pain for bondholders

Customers know bills have to rise, but shareholders should also pay, as they would at a conventional company that overextended itself

The Guardian - UK

Thames Water says without steep bill increase it’s ‘neither financeable nor investible’

Debt-laden company tells Ofwat if it cannot charge customers 59% more, it ‘would prevent company turnaround and recovery’

The Guardian - UK

Thames Water proposes huge new bills hike

The average bill over the five-year period from 2025 to 2030 would be £638 under the proposal

The Independent UK

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Water bills must rise if Labour is to hit housebuilding target, industry claims

Companies need regulator go-ahead on significant increases or they will not be able to aid plan, says Water UK

The Guardian - UK

UK water companies to warn bill cap will drive away investors for overhaul

Ofwat’s tighter spending targets would ‘hamper sector’s ability to deliver improvements’, study will say

The Guardian - UK

Couple billed £12,000 by water companies for non-existent leak describe four-year ‘torture’

‘It was like torture – like water torture – like a steady drip’

The Independent UK

Federal Reserve’s Jerome Powell says ‘the time has come’ for US interest rate cuts – as it happened

Live coverage as investors wait for signs at Jackson Hole summit of how fast US central bank will cut interest rates starting in September

The Guardian - UK

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Water campaigners are right about enforcement. Labour’s plans are still too vague

Without regulatory reforms and proper funding, the country will lack a muscular enforcer to strike fear among polluters

The Guardian - UK

Privatised water firms are imperilling our health and poisoning our rivers. Act now: flood the streets with rage

It is time to say this privatisation zealotry has been a disaster. March with us and let ministers know – enough is enough, says campaigner Feargal Sharkey

The Guardian - UK

Thames Water barred from billing customers for pension shortfall

Company faces scramble for funds after Ofwat says deficit is for managers and shareholders alone to deal with

The Guardian - UK

Activists warn of ‘extreme anger’ if ministers fail to reform water regulator

Sources say government has dismissed some of the more ambitious ideas for fixing sewage crisis

The Guardian - UK

Three water companies face big fines for sewage spills – it won’t do any good unless our whole approach to waste changes

The recent announcement of £168 million in sewage pollution fines issued to three water companies has renewed hope that the regulator for England and Wales, Ofwat, is finally taking action in line with public opinion.

The Conversation

Water customers to receive up to £2,000 compensation for serious service failures

Government to double rates of compensation for service failings by water companies

The Independent UK

Thames Water’s turnaround plan to be supervised by independent monitor

Ofwat says monitor will have access to company’s financial information and report back to regulator

The Guardian - UK

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The Independent UK

Mapped: Sewage in English rivers as water companies face £168m in combined fines

Campaigners have welcomed the proposed fines but warned the penalties highlight the ‘sheer state of disrepair’ of the water and sewage industry

The Guardian - UK

Thames Water’s assets are looking worse and worse. Bondholders must pay

Damning Ofwat report underlines multiple operational failings at the beleaguered company

The Guardian - UK

UK rivers and beaches have been heaped with pollution for years – when will we talk about restoration?

The penalties reflect the failings of the Environment Agency and Ofwat as much as the water companies

Evening Standard

OPINION - The Standard View: Violent criminals must understand that justice is coming

As police officers come under attack in Plymouth, Darlington and Belfast, and as reports circulate that far-Right thugs are planning protests in four London boroughs, it is vital that justice urgently takes its course.

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The Guardian - UK

Three water firms face record total £168m fine after sewage investigation

Ofwat to penalise Thames, Northumbrian and Yorkshire for ‘catalogue of failure’ over illegal discharges

Evening Standard

Thames Water faces record £104m fine over sewage spills

London’s water company among three firms facing combined £168m in fines for ‘catalogue of failure’ on sewage pollution

The Independent UK

Three of England’s biggest water companies face £168m in fines over sewage spills

Water firms ‘causing extensive environmental damage’ by routinely releasing sewage into rivers and seas, regulator Ofwat says

The Guardian - UK

Thames Water breaches licence as part of its debt downgraded to junk

Move by ratings company Moody’s puts Thames in breach its operating licence but Ofwat likely to hold off on large fine

Evening Standard

Moody’s cuts Thames Water’s highest-ranked bonds to junk

Moody’s Ratings lowered Thames Water’s class A debt to junk after the UK’s water regulator placed the company under a so-called turnaround oversight regime.

The Guardian - UK

Yorkshire Water bosses get hefty bonuses after company failed customers

CEO and CFO given total of £616,000 for a year in which some residents struggled to go about daily lives

The Guardian - UK

Southern Water boss handed £183,000 bonus despite huge rise in bills

Award for Lawrence Gosden comes after criticism of business plan and attempts to increase bills by 73%

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