Higher bills fuel revenue surge at FTSE 100 United Utilities Business The increase, which was largely due to more expensive consumer bills, helped underlying operating profit jump 24 per cent to £335.7m.
Macquarie owned Southern Water looks to borrow billions Business The move to borrow more cash comes following months of crisis at Thames Water, the fall-out of which is spilling out across the sector.
Telecom Plus: Utility Warehouse provider continues growth streak Energy Multi-service utility, internet and insurance firm Telecom Plus has reported a third consecutive year of double-digit growth. The FTSE 250 listed company, which provides energy, broadband, mobile and insurance services through one account, said that just over 1m households were now taking their essential home services from the firm. Telecoms Plus said that its customer [...]
Galliford Try nets £400m contract to deliver Wessex Water investment plan September 23, 2024 The UK construction group's environment arm will manage Wessex Water's capital delivery framework, which is valued at £3.7bn.
Thames Water creditors plan emergency funding for troubled utility September 22, 2024 Thames Water's lenders are reportedly preparing to plough more than £1bn of emergency funding into the embattled utility before the end of 2024 in an effort that could keep it out of government hands.
Thames Water in talks over £3.3bn emergency fundraising deal September 15, 2024 Thames Water has been in contact with Brookfield Infrastructure Partners and Global Infrastructure Partners about a £3.3bn emergency fundraising deal to help pay off some of the struggling utility’s large debt pile, according to reports. The firm, which is the largest of Britain’s privatised regional monopolies, has set itself a deadline of early November to [...]
UK water firms could face £2bn in fines over next five years, Moody’s warns August 15, 2024 UK water companies could be hit with a total of roughly £2bn in fines over the next five years, Moody's has estimated, warning that more demanding proposals from the industry regulator increase risk in the sector.
Thames Water books £200m dividend bill as cash reserves dwindle July 9, 2024 In its annual results, the embattled water company confirmed that its liquidity at the end of June was £1.8bn, "sufficient to found our operations for the next 11 months".
Utilities are no longer ‘simple defensive’ plays June 17, 2024 The green energy transition is upending the way the world does business. Nowhere is that more apparent than in the utility sector.
Pennon hands boss near £300,000 bonus despite pollution record June 10, 2024 British water company Pennon has named David Sproul as chair designate, and he will succeed Gill Rider who will retire from the board next month, the firm said on Monday.