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Staying above water: can pension trustees navigate the challenges of Ofwat?

Mike Birch, Independent Trustee at Vidett and former Director of Supervision at The Pensions Regulator (TPR), addresses the financial turbulence within the water sector,...

Thames announces proposed transaction to extend its liquidity runway

Thames Water Utilities Limited has announced a proposed transaction to extend its liquidity runway, including up to £3.0bn of new money in addition to...

First Minister of Wales visits Welsh Water Headquarters

The First Minister of Wales visited the Dŵr Cymru Welsh Water headquarters on Thursday 24th October to meet the company’s staff. Eluned Morgan was taken...

Governments launch largest review of the water sector since privatisation

An Independent Commission into the water sector and its regulation has been launched by the government in what is expected to form the largest...

Ofwat opens consultation on new powers in Water Bill

Ofwat has launched a consultation asking for the views of its stakeholders on three new rules of remuneration and governance proposed in the Water...

National Drought Group discusses preparations for extreme weather following wettest 12 months in England since 1836

The changing climate means we will see more extreme weather in the coming years, the National Drought Group heard at its latest meeting yesterday...

Thames Water independent Monitor is appointed

Ofwat has confirmed that an independent Monitor to report on the progress of Thames Water against its equity raise and transformation plans has now...

Licence modification on Price Review timing to be implemented by Ofwat to allow final determinations to be confirmed in January 2025 if necessary

Ofwat has confirmed a modification to English and Welsh water company licences that would allow the 2024 Price Review final determinations to be confirmed...

Ofwat calls on water sector to improve its performance after companies fall short on targets

Ofwat has published its annual Water Company Performance Report which shows disappointing results. According to the regulator, this demonstrates that record investment alone in...

Ofwat’s fifth Water Breakthrough Challenge to award £40m to innovative solutions to the industry’s big challenges

Ofwat will award up to £40m to highly collaborative innovation projects led by water companies in the Ofwat Innovation Fund’s fifth Water Breakthrough Challenge.   The...

Ofwat launches consultation on change of ownership for Portsmouth Water Limited and Leep Networks (Water) Ltd

Ofwat has launched a consultation on the change of ownership affecting two regulated companies, Portsmouth Water Limited and Leep Networks (Water) Ltd. The consultation assesses: ...

Water companies urge Ofwat to reconsider investment cut

Water companies have collectively warned Ofwat that its draft decision to cut proposed investment puts urgent improvements at risk.   In its submission to the...

GMB says water company claims that capping bills will create sewage risk is ‘absolute balderdash’

The GMB Trade Union, which represents over 10,000 workers in the water and wastewater industry, has said that water companies’ claims that plans to...

Ofwat confirms actions for Thames Water following investment credit rating downgrade

Ofwat has confirmed the implementation of commitments from Thames Water, effective immediately, to remedy its licence breach in losing its investment grade credit ratings....

Ofwat looks to appoint independent Monitor to Thames Water after credit rating downgrades caused licence breach

Ofwat has published a series of commitments that Thames Water will agree to comply with after it lost two investment grade credit ratings; something...

Secretary of State welcomes Ofwat’s actions following sewage investigation, but some raise concerns about effectiveness of fines

Secretary of State, Steve Reed, has welcomed Ofwat's proposal to fine Thames, Yorkshire and Northumbrian Water a total of £168m for failing to manage...

Thames Water says it regards all untreated sewage discharges as unacceptable, even when they are permitted

In response to Ofwat's proposal to fine three water companies as part of the first batch of outcomes from its biggest ever investigation, Thames...

Thames, Yorkshire and Northumbrian Water face £168 million penalty following sewage investigation

Ofwat has proposed that three water companies will be fined a total of £168m for failing to manage their wastewater treatment works and networks,...

More trouble for Thames Water as S&P downgrades their Class A and B debt

S&P (Standard & Poor's) has downgraded Thames Water's Class A debt rating to BB and its Class B debt rating to B. This follows...

Summit on support for struggling customers announced as reports highlight continued affordability challenge

Ofwat has announced a summit on the support offered to customer's struggling to pay their bills, following latest research published by the regulator. The Vulnerability...

Thames Water responds to Moody’s Ratings downgrade, but Moody’s says the outlook ‘remains negative’

Thames Water Utilities Limited has responded to yesterday's downgrading by Moody's Ratings. Moody's is a New York-based company which rates the creditworthiness of companies, governments,...

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