Water firms to be forced to increase customer compensation for failures Business The changes come after a series of outages earlier in May left tens of thousands of homes in Brixham without clean drinking water.
Water bills set to rise by a fifth as government calls for ‘complete reset’ of sector Energy Water bills are set to rise by at least 21 per cent as the government slams a "failure of regulation and governance" within the sector.
Yorkshire Water hikes dividend despite pollution remaining ‘too high’ Water Yorkshire Water, which serves more than five million customers across the region, has hiked its dividend during the first half of its financial year despite pollution levels remaining “too high”. The provider paid out dividends totalling £37.5m in the six months to 30 September, 2024, up from the £17.7m during the same period in 2023. [...]
Pennon water flips to a loss after parasite outbreak November 27, 2024 Losses at water company Pennon widened significantly as the group struggled to pay millions to fix a parasite outbreak that led to diarrhoea. Today, the South West Water owner said its underlying profit before tax had jumped from £19.1m in profit the first half of last year to £18.6m in losses. The results were in [...]
Ofwat blocks nine water firms from using customer cash for hefty bonuses November 21, 2024 Ofwat said it would use new powers to prevent customers paying for £6.8m in payouts across the industry, 73 per cent of the total.
Severn Trent hikes dividend as profit nearly triples November 20, 2024 Coventry-headquartered Severn Trent was fined more than £2m for polluting the River Trent near Stoke in February.
‘Overwhelming’ number of Brits back water firms being sued over pollution October 10, 2024 An "overwhelming" amount of the public supports water companies being sued for financial damages, as the sewage pollution puts the limelight onto water businesses
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 [...]
Water bosses risk prison time as government launches crackdown September 4, 2024 Bosses of water companies who obstruct watchdog investigations could face up to two years behind bars, as the government unveils tough new laws to ramp up enforcement. The Water (Special Measures) Bill was introduced in Parliament on Wednesday and will grant sweeping new powers to the Environment Agency (EA), the Drinking Water Inspectorate and Ofwat [...]
Water firms’ industry body: Dividend payouts haven’t affected infrastructure investment September 1, 2024 Water companies would be in a similar state today even if they hadn't paid out millions in dividends, the boss of their industry body claimed.