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The Latest Breaking News from Ofwat

Water companies ask to raise bills by even more than first planned

Southern Water, Thames Water and others demanded steeper increases than set out earlier this year despite regulator Ofwat trying to reduce rises.

Evening Standard

Water companies push for higher bills again as customers face up to 84% hike

Utilities including beleaguered Thames Water have applied to the regulator, Ofwat, to hike tariffs so they can upgrade their networks

The Independent UK

Water companies raise bonuses to £9.1m despite record sewage discharges

Third of total comprises bonuses at Severn Trent as indebted Thames nearly doubles payouts to executives

The Guardian - UK

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Water firms ‘laying groundwork’ to appeal against Ofwat bill rise cap, says Moody’s

Credit rating agency expects English and Welsh companies to challenge regulator’s ruling with CMA watchdog

The Guardian - UK

Top-rated UK water firms ‘dumped 1,374 illegal spills into rivers’

Exclusive: United Utilities and Severn Trent had four-star environment ranking but discharges breached permits, campaign group says

The Guardian - UK

Don’t indulge the Thames Water whingers next week, prime minister

Labour should stand firm at its investors summit and remind attenders that the UK’s utilities sector is eminently investable

The Guardian - UK

English water system singled out for criticism by UN special rapporteur

Prof Pedro Arrojo-Agudo says regulator Ofwat ‘complacent’ about water firms putting their shareholders before public

The Guardian - UK

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Water companies to pay £160m back to customers – how to get your share

Customers will get their refunds next year – but some will be given more than others

The Independent UK

Water companies in England and Wales told to pay £158m penalty to customers

Ofwat says firms must lower bills next year after poor performance on issues such as sewage spills and leaks

The Guardian - UK

Shein’s UK profits double; Water companies penalised for poor performance; China targets EU brandy – as it happened

Rolling coverage of the latest economic and financial news, as UK gilt yields rise and water companies face paying £157m to customers

The Guardian - UK

Water companies ordered to return £158m to customers next year after missing key targets

For the second year in a row, no company achieved the top rating, although four companies did show an improvement from last year.

Evening Standard

Water companies must return £157.6m to customers over poor performance

Not one company has achieved the regulator’s top category, while three are in the lowest category of ‘lagging’

The Independent UK

Southern Water seeks to borrow up to £4bn from investors

Move could increase pressure on utility companies turning to bond markets amid crisis at Thames Water

The Guardian - UK

Unresolved water complaints in England and Wales rise to near-decade high

Customer disputes over sewage spills, billing mistakes and water meters soar in past year

The Guardian - UK

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The Guardian - UK

Small firms face near-30% rise in water bills, Ofwat letter reveals

Businesses in England and Wales say they are paying for ‘historic errors’ by water suppliers

The Guardian - UK

Thames Water could be blocked from new debt financing next week

Troubled firm has until 7 October to agree to extension, according to holding company accounts

The Guardian - UK

Southern Water considers shipping supplies from Norwegian fjords to UK

Contingency plan using sea tankers to deal with future shortages would be paid for from customers’ bills

Evening Standard

Credit agencies slash their ratings on Thames Water debt

The move drags £16 billion of Thames Water debt even deeper into junk territory

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The Guardian - UK

Six water firms in England ‘overcharged customers by up to £1.5bn’

Firms underreported true scale of sewage pollution for 10 years, which allowed them to set higher bills, tribunal told

The Guardian - UK

Thames Water trying to stay afloat by rewriting loan deals, says source

Firm in £15bn debt books November high court dates in effort to extend ‘liquidity runway’

The Guardian - UK

Billpayers in England and Wales tricked into ‘stealth bailout’ of water companies

Campaign group challenges industry regulator over price rises for customers that will pay to upgrade infrastructure

The Guardian - UK

Remainder of year’s water bills will pay dividends and service debts, say campaigners

We Own It says 31% of water bills went on shareholder payouts and company debts in last financial year, while the same percentage of 2024 remains

The Guardian - UK

Elliott, unlike Thames Water’s board, sees the inevitability of debt writedowns

Hedge fund’s reported purchase of £1bn of bonds at a big discount suggests growing realism about company’s future

The Guardian - UK

The Guardian view on the regulatory state: Labour must put people before profit

Grenfell showed what can happen when human needs are disregarded. Tougher laws governing business are one answer

The Guardian - UK

Water bosses could be jailed if they cover up sewage dumping under new law

CEOs in England and Wales could face two years in prison under proposals to force firms to supply data quickly

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