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