Water industry finances are under pressure again. Thames Water Last week, the Environment, Food and Rural Affairs Committee questioned Thames Water and Ofwat about the company’s financial situation. This included the nature of the recent £500m equity injection to Thames, its parent company’s ability to pay its debts, Ofwat’s new dividend lock-up powers and prospects […]
The Secretary of State for Environment, Food and Rural Affairs, Steve Barclay, has written to water companies asking them to improve maintenance programmes to ensure these are not a cause of storm overflow discharges. He highlights this is a legal requirement that water companies should already be delivering and states his plans to closely follow […]
The Sunday Times reports that a part owner of one of the UK’s biggest water suppliers is considering an exit as the sector comes under increasing scrutiny. US-based investment house Corsair is reportedly seeking a buyer for its 30 per cent stake in Kelda, the owner of Yorkshire Water. The company is reportedly looking for […]
Writing The Mint magazine, Justin Taberham examines the prospects for the UK water sector. Near daily media interest and criticism of water companies’ pollution performance has lately been often stimulated by public reporting or legal action against them. In addition, debt loadings for some companies are at unsustainably high levels and investors have had to […]
Ofwat has published key facts from water companies’ business plans 2025-2030, with information on proposed increases in investment and customer bills. The regulator is currently scrutinising these plans, including looking at water companies’ ambition for customers and the environment and the affordability of plans for customers. The proposals could see bills increase significantly by 2030, […]
Water company business plans have been submitted to Ofwat. The five-year plans cover the period 2025 to 2030 and collectively amount to £96 billion of proposed investment, an 88% increase on the previous five years. According to the sector body Water UK, the investment “will secure water supplies against the rising prevalence of drought, ensure […]
Ofwat has published the Water Company Performance Report 2022-23. It looks at the performance of the 17 largest water and wastewater companies in England and Wales across a set of key performance and expenditure metrics. According to Ofwat, “Under-performance by the majority of water and wastewater companies in England and Wales, will mean companies have […]
The House of Lords Industry and Regulators Committee has criticised the Government’s “lack of leadership and deep-rooted complacency” in the conclusion to its follow-up inquiry into Ofwat, the water industry and the role of Government. In a letter to Thérèse Coffey MP, Secretary of State for Environment, Food and Rural Affairs, the cross-party committee has […]