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The Latest Breaking News from Thames

Canadian export agency ‘nursing losses’ after lending $1bn to Thames Water

State-backed body EDC has reportedly sold at deep discount five loans made to debt-ridden UK utility

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

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 Independent UK

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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

The Guardian - UK

Thames Water hit with £39m of penalties after missing regulatory targets

Performance report shows debt-laden company missed 21 targets in areas from pollution to supply interruption

The Guardian - UK

Friday briefing: What the crisis at Thames Water means for customers

In today’s newsletter: The UK’s biggest water company has faced fierce criticism after presiding over rising water bills and a sewage crisis – and now customers are facing a 22% increase in bills

The Guardian - UK

Ofwat accused of showing ‘contempt’ to customers over water bill price rises

Politicians and campaigners condemn charging proposals, as regulator puts Thames Water into special measures

The Guardian - UK

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Thames Water placed in special measures due to ‘significant issues’

Ofwat says UK’s biggest water company will come under extra scrutiny as it faces prospect of restructuring or temporary renationalisation

The Guardian - UK

Rise of £94 in water bills over five years is ‘bitter pill’, says chancellor

Customers in England and Wales to pay an extra £19 each year on average as firms raise money to tackle sewage and leaky pipes

The Guardian - UK

Thames Water bills to shoot up by almost £100 over the next five years

The company has warned that it could run out of money by next May if it is not allowed to put up bills by 59%

Evening Standard

Thames Water fails to complete 108 upgrades to ageing sewage works

Exclusive: Fears customers will end up paying twice for work needed in order to comply with legal pollution limits

The Guardian - UK

Cheap sales, debt and foreign takeovers: how privatisation changed the water industry

Familiar concerns over bosses’ pay, prices and borrowing emerged in the utilities’ early years in private hands, with UK dubbed the ‘dirty man of Europe’

The Guardian - UK

Thames Water blames climate change after sewage discharge into rivers doubles

Firm under fire as it admits huge increase in pollution as it pushes for 59 per cent bill hike and pays out £195million to shareholders

Evening Standard

Rise in sewage pollution from Thames Water’s ageing treatment works

Incidents from sites and pipe network increased by 19 last year to 350 amid delays in investment, company says

The Guardian - UK

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The Independent UK

Thames Water pays out £158m to shareholders despite £15bn debt and sewage leak failings

Thames Water says it has cash to last until May 2025 and if it fails to find investment, Sir Keir Starmer will face a decision on measures that would effectively see it nationalised

The Guardian - UK

Thames Water to tap investors for funds as it will run out of cash by next June

Company is laden with £15.2bn of debt, up £1.3bn on the previous year, most of which could be added to the public purse

The Guardian - UK

Thames, Tata, Shein – it won’t be business as usual for Labour’s Jonathan Reynolds

The new business secretary will have big calls to make within a few days of sitting down at his desk

The Guardian - UK

Thames Water accused of ‘chicanery’ over £150m dividend payment

Debt-laden utility urged to show greater transparency as it faces investigation by industry regulator Ofwat

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The Guardian - UK

Thames Water board approved £150m payout hours before funding U-turn

Exclusive: Ofwat to investigate circumstances around payment of dividend to intermediate parent company

The Guardian - UK

Thames Water urged to ‘get a grip’ on testing water supply after illness outbreak

Exclusive: Labour calls on firm to urgently test treatment works after dozens in south-east London experience vomiting and diarrhoea

The Guardian - UK

Ofwat poised to refuse most suppliers’ requests for big price rises

Water watchdog decision on bills in England and Wales delayed until after election, as Thames crisis looms

The Guardian - UK

Thames Water’s biggest investor cuts value of its stake to zero

Writedown by Canadian pension fund Omers highlights growing financial crisis at utilities firm

The Guardian - UK

Dow Jones Industrial Average hits 40,000 points for first time; UK reality TV stars charged over FX scheme – as it happened

Strong quarterly results and hope of interest rate cuts drive DJIA to new alltime high

International Business Times

How UK's Biggest Water Supplier Sank Into Crisis

Thames Water, the UK's largest water supplier, has been ravaged since privatisation by soaring debts and chronic underinvestment, sinking into a deep financial crisis which has sparked bailout speculation.

The Guardian - UK

Thames Water’s extra £1.1bn will do little to steady the sinking ship

The debt-riddled firm has updated its five-year spending plans but still needs to convince the regulator and investors

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