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The Latest Breaking News from Ofwat

‘Elevated’ risk of hackers targeting UK drinking water, says credit agency

Moody’s warning over hacking’s effect on debts may bolster water utilities’ plans to hike bills to cover needed investments

The Guardian - UK

Water firms in England and Wales urged to invest profits in cutting bills

Suppliers expected to charge average 6% more from April despite public anger at underinvestment and sewage dumping

The Guardian - UK

Revealed: watchdogs and water bosses had dinner at private London club to discuss future

Exclusive: Meal attended by Environment Agency and Ofwat chairs attacked as outrageous example of ‘regulatory capture’

The Guardian - UK

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Toxic sewage spills should trigger bonus ban for water bosses, says Labour

Labour has accused Tories of turning a 'blind eye to corruption'

Evening Standard

Tide of disapproval awaits new round of UK water companies’ price rises

News of the increases, due by the end of the month, comes amid rising anger over companies’ environmental records

The Guardian - UK

South West Water ‘not honest’ about drought preparations, watchdog claims

Devon and Cornwall had months of hosepipe bans as parts of country almost ran out of water in 2022

The Guardian - UK

Thames Water’s owners only have themselves to blame for the writedowns

It looks as if USS simply overpaid and underestimated the effort and catch-up investment required

The Guardian - UK

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Water firms use up to 28% of bill payments to service debt in areas of England

As English water companies plan to hike bills, the Guardian reveals customers are paying a high price for combined debts of £60bn

The Guardian - UK

How much of your water bill is swallowed up by company debt? – interactive

Analysis shows that 28% of Thames’ customer bills were spent servicing debt, as the company lobbies for more

The Guardian - UK

How we calculated the proportion of revenue English water firms use to pay off debt

Finding out the percentage from consumer bills used to service debt is tricky. We worked with industry experts to shed light on the issue

The Guardian - UK

Thames Water owner hit by second credit rating downgrade in six months

Moody’s move comes as it warns of ‘materially’ increased risks that regulators will block dividend flow

The Guardian - UK

Thames Water appoints Chris Weston as boss with up to £2.3m package

Former British Gas executive tasked with leading turnaround in face of debts and controversy over sewage

The Guardian - UK

If Thames Water has to be nationalised, so be it. Ofwat should not be bullied

MPs should demand shareholders invest on fair terms for customers. If they refuse, they should be wiped out

The Guardian - UK

Thames Water apologises to MPs for ‘confusion’ over £500m loan

Labour MP calls firm’s finances an ‘absolute shambles’ as Ofwat vows it is prepared to put it into administration

The Guardian - UK

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The Guardian - UK

South East Water paid £2.25m to shareholders despite £18m losses

Cost of debt rises for firm that left thousands of customers without running water in summer

The Guardian - UK

More good intentions from Thames Water but where’s the owners’ new capital?

Shareholders promise more capital for investment but customers will believe it when they see it

The Independent UK

Thames Water investigated by regulator Ofwat over dividend payment

Regulator asks if £37.5 million payment breached embattled supplier’s licence requirements

The Guardian - UK

Ofwat investigates whether Thames Water dividend is licensing breach

Exclusive: Debt-laden water supplier says it has paid £37.5m dividend from operating company

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news in one place.

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The Guardian - UK

Labour to urge MPs to ban bonuses for water firm bosses over sewage dumping

Motion will force Tory MPs to say whether bonuses can still be paid despite poor state of English and Welsh waterways

The Guardian - UK

South East Water under investigation over supply failures

Company blamed increased working from home in south-east of England for hosepipe ban

The Guardian - UK

Ofwat accused of ‘meaningless gesture’ after reducing Thames Water penalty

Regulator cuts amount company will have to pay for underperformance by almost £5 for each customer

The Guardian - UK

Alarm raised over water firm job of new environment secretary’s wife

Steve Barclay married to executive at Anglian Water, which is under investigation for potential illegal dumping of raw sewage

The Independent UK

Millions of customers to get lower water bills as firms miss targets - check if you’re one of them

Water watchdog confirms amount customers will see knocked off their bills over 2024 and 2025

Evening Standard

Thames Water told to give back £74million to customers after poor performance

The amount watchdog Ofwat has told the water company to return is the highest in the UK

The Guardian - UK

Water regulator starts a ‘crackdown’ on bonuses about 30 years too late

Ofwat’s newfound interest in executive pay in the water industry is merely a tweak

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