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The Latest Breaking News from Thames Water

Thames Water fined £18m over dividends but granted 35% bills hike by 2030

The ruling falls well short of a 59% bills hike requested by the troubled water company, as it tries to secure a bailout from investors.

Evening Standard

Average water bill in England and Wales to rise by 36% over five years

Firms accused of forcing households to pay for years of underinvestment after Ofwat agrees to increases to help fix sector

The Guardian - UK

Thames Water bills will surge by £152 over the next five years in new blow to London households

Company also fined £18 million by regulator for breaking rules on payment of dividends

Evening Standard

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Thames Water to get green light to hike bills by more than a third by 2030

Exclusive: Long-awaited decision by water regulator Ofwat falls short of utility’s requested 59% rise

The Guardian - UK

Thames Water takes first step in restructuring in bid to avoid administration

A High Court judge ruled on Tuesday that the utility’s restructuring plan could be put to creditors for approval.

Evening Standard

Thames Water could run out of cash by March next year, High Court told

Thames Water, England’s biggest water company, will run out of money by March if restructuring plans are not approved

Evening Standard

Creditors in High Court row over Thames Water restructuring plans

Thames Water, England’s biggest water company, will run out of money by March if restructuring plans are not approved.

The Independent UK

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Thames Water wins court approval to secure ‘critical’ £3bn cash lifeline

Decision came after protesters called on judges to block a financial bailout they say will cost customers £250 a year

The Guardian - UK

Thames Water to pay customers up to 10 times as much in compensation for failures

Under the new rules, Thames Water will have to pay customers much higher sums

Evening Standard

OPINION - Selling Royal Mail to a Czech billionaire marks a bleak day for Britain

We have long since got used to our corporate crown jewels being raided by foreign buyers: Roll-Royce Motors, Land Rover, Harrods, Heathrow, even Weetabix and Polos are all in the stewardship of overseas owners. Vital public services such as Thames Water are also not excluded from the list.

Evening Standard

Swimming status of Ilkley’s River Wharfe in limbo over sewage pollution

Stretch of river in West Yorkshire was first to get bathing status in 2020 but has since recorded poor water quality

The Guardian - UK

Households ‘to be hit with hike in water bills of at least 20 per cent’ sparking backlash

Environment secretary argues increase needed to fix UK’s sewage system ‘broken’ by Tories

The Independent UK

Water companies urged to step up help on bills for vulnerable customers

Regulator poised to reveal steep price rises as campaigners in England and Wales fear water will become unaffordable

The Guardian - UK

Thames Water boss defends six-figure bonuses and pushes for steep bills hikes

Chris Weston’s comments come ahead of a crunch Ofwat decision next week on whether Thames Water can increase consumer bills by 59%

Evening Standard

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The Independent UK

Thames Water boss defends bonuses and repeats calls for steep bills hikes

Chris Weston’s comments come ahead of a crunch Ofwat decision next week on whether Thames Water can increase consumer bills by 59%.

Evening Standard

Thames Water debt hits £15.8bn but boss hails turnaround progress

The crisis-hit utility reported a jump in pollution incidents and said a ruling by Ofwat later this month will be fundamental to its future

The Guardian - UK

Cost of average UK Christmas dinner rises by 6.5%, says Kantar; Ashtead to move listing to US – as it happened

Christmas dinner for four costs £32.57 as price of turkey and vegetables rises; wider grocery inflation climbs to 2.6%

The Guardian - UK

Thames Water will run out of cash by March without £3bn emergency funding

Britain’s biggest water supplier reports 40% increase in pollution incidents, blaming a wet spring and summer

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The Independent UK

Thames Water reports 40% rise in pollution incidents as debts swell

The company blamed an especially wet spring and summer as it reported 359 pollution incidents during the period.

Evening Standard

Utilities drag on FTSE 100 after Thames Water receives rescue bid

The FTSE 100 moved 40.77 points lower, or 0.49%, to close at 8,308.61.

The Guardian - UK

Struggling Thames Water receives £5bn buyout offer from Covalis

Deal would result in France’s Suez Group being brought in to manage restructure of water company

Evening Standard

Thames Water receives buyout offer from investment group Covalis Capital

The plans would see French water firm Suez brought in to help run the company while Covalis breaks Thames Water up into smaller chunks.

The Guardian - UK

Investors up bets on Federal Reserve interest rate cut after US jobs data – as it happened

Live, rolling coverage of business, economics and financial markets as American private sector adds 227,000 jobs in November

Evening Standard

What the papers say – December 6

Here are the top stories to round out the working week.

Evening Standard

Investors line up ahead of Thames Water deadline for £3.3bn equity raise

Castle Water is said to be among those planning to put in potential bids for an equity cash injection into Thames Water.

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