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The Latest Breaking News from Ofwat

Castle Water vows to create 2,000 jobs at Thames Water in fresh bid approach

The utility firm has returned with an improved proposal for Thames, which is in advanced talks with creditors and regulators to secure funding.

Evening Standard

Thames Water bidder says it is offering £1bn extra cash injection

Castle Water says restructuring plans do not go far enough and extra funds will help resolve pollution crisis

The Guardian - UK

Wessex Water must pay £11m over wastewater failures, says regulator

Company failed to effectively operate, maintain and upgrade its wastewater assets, Ofwat finds

The Guardian - UK

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Wessex Water should pay £11m over wastewater failures, says regulator

Ofwat said the failures related to the maintenance of Wessex Water’s network to ensure it could cope with flows of sewage and wastewater.

Evening Standard

Wessex Water ordered to pay £11m over wastewater failures

Ofwat has also said it must reduce spills at specific storm overflows through investment

The Independent UK

Bosses at six water firms had £4m in bonuses blocked under new rules, Ofwat says

Regulator also considers forcing companies to report pay received from parent firms after Guardian investigation

The Guardian - UK

Thames Water among six water firms to have bonuses for top bosses blocked

More than £4 million of potential bonuses were banned under new rules on performance-related executive pay, regulator Ofwat said.

Evening Standard

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Ofwat letting water firms charge twice to tackle sewage, court to hear

River Action bringing legal action against water regulator over who should foot bill for firms’ past failures to invest

The Guardian - UK

Water firms’ environmental performance sinks as serious pollution cases up 60%

The Environment Agency has called for a fundamental shift in culture and behaviour from English water firms in the light of ‘poor’ results.

Evening Standard

Thames Water ranked worst supplier in England as firms’ ratings hit record low

Environment Agency rates eight of nine companies as poor and needing improvement

The Guardian - UK

Water firms in England could face harsher sewage fines under new Environment Agency powers

Government consults on allowing regulator to use lower civil standard of proof and introducing automatic penalties

The Guardian - UK

Thames Water delays challenging watchdog’s ruling on bills amid rescue plan

The UK’s biggest water firm said it had agreed with Ofwat to defer the case until further notice.

Evening Standard

The bills are water torture – and so is the regulatory process in England

Five suppliers can raise charges but Ofwat is able to celebrate a minor moral victory. The whole process feels surreal

The Guardian - UK

The five utility companies cleared to increase water bill charges

IN FULL

The Independent UK

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Evening Standard

Five water firms provisionally allowed to raise bills by further 1% to 5%

An independent group appointed by the competition watchdog rejected nearly 80% of increases sought by companies.

The Guardian - UK

Entry-level workers face AI ‘job-pocalypse’; US probes Tesla’s self-driving system – as it happened

Business leaders are prioritising automation through AI to fill skills gaps, rather than training junior employees, survey finds

The Independent UK

Millions of households face jump in water bills after watchdog’s ruling

Five companies have been granted permission to increase their charges

The Guardian - UK

Millions in England face higher water bills after regulator backs more price rises

Competition watchdog agrees to requests from Anglian, Northumbrian, South East, Southern and Wessex to increase charges

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The Guardian - UK

Water bills: millions of households in England could face even bigger rises

CMA poised to give verdict after appeal by five firms for permission to increase bills higher than allowed by Ofwat

The Guardian - UK

There are no good options at Thames Water. But temporary renationalisation is cleaner

Creditors may well succeed in their plea for lower standards, but at this point customers deserve to see some proper detail

Evening Standard

Thames Water lenders submit new rescue plan to avoid nationalisation

The London & Valley Water group of creditors has outlined plans to write off around £4 billion, or 25%, of the debt they hold in Thames Water.

The Guardian - UK

Thames Water creditors ask for up to 15 years’ leniency from river pollution rules

Lenders say a ‘full return to legal, regulatory and environmental compliance’ under new rescue plan would not be completed until at least 2035-2040

Evening Standard

Thames Water lenders propose new rescue deal to prevent collapse

London & Valley Water hope to eventually float Thames Water on the stock market after turning around the firm’s fortunes.

Evening Standard

Pennon to return to profitability despite pressure from summer heatwave

The South West Water owner said it expects earnings to increase by 60% year-on-year.

The Guardian - UK

UK public has paid £200bn to shareholders of key industries since privatisation

Analysis reveals ‘privatisation premium’ of £250 per household per year paid to owners of water, rail, bus, energy and mail services since 2010

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