Millions of Britons living in freshwater areas could face a much higher risk of developing dementia from tap water, a new study suggests. A groundbreaking study suggests that 27 million people – representing 40 per cent of the UK population – could be at increased risk of degenerative brain disease because their drinking water contains … Read more
The UK’s largest water company has been fined £18.2m for “unjustified” dividends which the regulator said broke shareholder payment rules. Thames water has been hit with a penalty by water regulator Ofwat over £195.8 million in dividends paid in October 2023 and March 2024. This is the first time Ofwat has used such enforcement powers … Read more
Thames Water has won court approval to proceed with the next phase of securing a £3 billion emergency loan, with a hearing to seek approval from creditors scheduled for four days in the first week of February. The troubled utility told the High Court that without the loan it would run out of cash by … Read more
This is a crucial week for the water industry. Regulator Ofwat will make its “final determination” on Thursday on how bills will rise over the next five years. Before that, Britain’s largest company Thames water hopes to gain court approval for a £3bn bridging loan to avoid running out of cash in the spring. Together … Read more
Thames Water has revealed a 40% increase in sewage spills while warning that a looming decision on what it can charge its customers is “fundamental to our future”. The UK’s biggest supplier, which is struggling to avoid the prospect of a special administration amid massive debt, has always maintained that the regulator’s decision on its … Read more
The UK’s biggest water supplier has received another offer, despite declaring itself ‘non-investable’. The latest bid for Thames Water came from infrastructure investor Covalis Capital, which would use French utility Suez, the company confirmed on Friday morning. If agreed, the supplier could be split into smaller companies, the Financial Times reported, and Suez would be … Read more
A new approach to speeding up the evaporation of seawater has been hailed as a major breakthrough in desalination technology that will benefit billions of people around the world. Up to 36% of the world’s eight billion people currently suffer from severe freshwater shortages for at least four months of the year, and this figure … Read more
Thames Water’s largest group of creditors has failed to secure a veto over whether a £3bn emergency cash injection would be used to settle regulatory fines imposed over a series of breaches in terms of environment and performance. Sky News can reveal a clause stipulating the company’s A lenders – who account for well over … Read more
The sector regulator has banned nine water companies from using their customers’ money to fund “undeserved” bonuses. Ofwat said it had stepped in to use its new powers on water companies that cannot demonstrate that bonuses are sufficiently linked to performance. Blocked payments amount to 73% of the total executive rewards offered across the industry. … Read more
Crisis-hit Thames Water says it has received enough support from its creditors to potentially secure up to £3 billion in emergency funding. The UK’s largest water company has revealed that those holding more than 75% of its least risky debt have agreed to staged funding, saying the deal is expected to last until at least … Read more