Profits boom for Thames Water despite leak jump December 5, 2022 Thames Water posted nearly £400m in profits for the six months to September, despite the firm grappling with a jump in leaks during the scorching summer. The UK’s biggest water company said pre-tax profits were £398m, swinging from a pre-tax loss of £581m for the same period in 2021. Thames Water said it experienced an [...]
Ofwat to focus on credit ratings as it defends lack of debt limits for water suppliers December 2, 2022 Boosting the financial resiliency of each water supplier is more important than taming overall sector debt, argued Ofwat.
Profits plunge for Pennon as inflation bites November 30, 2022 Profits dipped for Pennon this half year as inflationary pressures get the better of the water services group. Underlying profit before tax slumped 75 per cent compared to 2021 levels, reflecting the near-term pressures on earnings from inflation driven power pricing and financing costs. Profit before tax was £20.9m for Pennon, down from £79.9m in [...]
Ofwat orders Thames Water and Southern Water to return £80m to customers November 15, 2022 Two of the UK's leading water companies will have to return more than £80m to customers, confirmed watchdog Ofwat.
Sewage spills from storm overflows ‘unacceptable’ admits Thames Water boss October 18, 2022 Storm overflows causing severe discharges of sewage are 'unacceptable', argued the boss of Thames Water.
UK faces £100bn bill to fix water system, warns watchdog chief October 11, 2022 It would cost hundreds of billions of pounds to develop a modern water system, warned the chief executive of the Environment Agency.
Customers gain £150m rebate from underperforming water companies October 3, 2022 Customers from eleven water firms will enjoy rebates on their energy bills, revealed industry regulator Ofwat.
A drought of willpower: The UK’s struggle to meet its water needs September 28, 2022 The proposed super reservoir to meet the UK's water needs could be a key litmus test for the Government's desire to boost infrastructure.
Thames Water calls for cash once again despite investor’s £1.5bn pay out September 4, 2022 Thames Water has started exploring plans to raise further capital, just months after shareholders agreed to pump £1.5bn into the company.
Thames Water leaks the same as leaving hosepipe on for 73 years August 24, 2022 Thames Water wastes the same amount of water as leaving a hosepipe on every single day for more than 73 years, trade union GMB has claimed. The union said that Thames Water’s creaking infrastructure loses 635m litres in leaks every single day. The comparison comes as Thames Water today begins to enforce a hosepipe ban [...]
