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The Latest Breaking News from Thames Water

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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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

The Guardian - UK

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.

Evening Standard

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

The Guardian - UK

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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

The Guardian - UK

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.

Evening Standard

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 Independent 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 Guardian - 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 Independent 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

The Guardian - UK

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Evening Standard

Creditors table £17bn plan for Thames Water but call for regulatory leniency

The lenders in the utility are proposing to invest another £3 billion in new equity and £2 billion of funding, but also write off billions of debt.

The Guardian - UK

MPs ask minister if he will claw back Thames Water executive bonuses

Chair of troubled firm admits 21 senior managers were paid 50% of base salary on 30 April

The Guardian - UK

Public ownership of England’s water companies could cost close to zero, says thinktank

Exclusive: Common Wealth report argues debt, pollution and underinvestment justify process known as special administration

The Guardian - UK

Bidders demand Thames Water granted immunity over environmental crimes

Exclusive: ‘Ransom note’ requests would leave Environment Agency unable to prosecute company or management

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Advnture

Is the tide turning for wild swimmers? Lawmakers step in to block bonuses for English water bosses behind surging lake and river pollution

Weeks after Thames Water was fined £123 million for pollution and questionable payouts to investors, the UK government has banned bonuses for many of the nation's water company executives

The Independent UK

The water firms banned from paying bonuses to senior bosses under new laws

Campaign group River Action have called the move a “welcome step” but said that increased salaries should be prevented

The Guardian - UK

Bonuses banned for 10 English water bosses over sewage pollution

Sanctions, including for Thames Water CEO, announced as part of new government powers under Water Act

The Independent UK

Six water companies banned from paying bonuses to senior bosses

New rules ban bonuses if a water company does not meet environmental or consumer standards or does not meet financial resilience requirements.

Evening Standard

'Contemptible' Thames Water accused of 'telling lies to the British public' in dividends row

The scathing criticism came as peers discussed a collapsed rescue deal for the debt-laden firm

Evening Standard

Northumbrian Water to pay out £15.7m after sewage and water network failings

Bosses at the watchdog Ofwat said the company’s failures led to ‘excessive spills from storm overflows’.

The Guardian - UK

A race against time: what now for Thames Water after rescue deal collapses?

Huge group of creditors in scramble as prospect of temporary nationalisation looms large for troubled firm

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