Ofwat hits ailing Thames Water with £40m fine over dividend payment
Saturday, 1 June 2024 Britain's biggest water company has been told it faces a fine of more than £40m over the payment of a shareholder dividend in spite of its poor performance.
Crisis-hit Thames Water has warned its cash is at risk of running dry by the end May next year due to a lack of new investment, forcing it to prepare a plan for.. Sky News
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
Saturday, 1 June 2024
![Water UK unhappy with Ofwat's water bill hike [Video]](https://video.newsserve.net/300/v/20240711/1381294638-Water-UK-unhappy-with-Ofwat-water-bill.jpg)
