Thames Water shareholders blame Ofwat as they pull funding
Thursday, 28 March 2024 Shareholders in troubled Thames Water have blamed Ofwat for not giving the "regulatory support" needed to help the company's turnaround plan.
Chancellor Jeremy Hunt says the Treasury will monitor Thames Water's situation "very carefully" but believes the company is “still solvent” despite reports of shareholders withdrawing investment money. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter...
The chief executive of Ofwat has accused Thames Water of a "catalogue of failures" over sewage spills. The regulator has proposed fining Thames Water, Yorkshire Water and Northumbrian Water a total of 168 million pounds after conducting an investigation. David Black adds Ofwat is talking to the government about giving them additional powers to block chief executive bonuses "where companies fail to comply with the law". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Environment Secretary Steve Reed welcomes Ofwat's decision to impose record fines on water companies for failing to tackle sewage spills.
Northumbrian Water, Thames Water and Yorkshire Water face financial penalties totalling £168m following the regulator’s largest ever investigation into the performance of water companies.
Report by Alibhaiz. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Ofwat's draft proposals will increase household water bills in England and Wales by an average of £19 a year over the next five years, significantly less than requested by water companies. Water UK chief executive David Henderson criticised the decision, stating that reduced investment would hinder housing development, slow river recovery, and impede efforts to address future water shortages. He urged Ofwat to reconsider and allow necessary infrastructure investments to proceed. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Communities Secretary Michael Gove brands the management of Thames Water a “disgrace”, insisting they should “carry the can” for any future investment, instead of consumers. Bosses at the..