Troubled Thames Water braces for enormous fines in latest Ofwat …

Jul 13, 2024 · Troubled Thames Water braces for enormous fines in latest Ofwat crackdown ... Ofwat has told Thames that unless returns with a new business plan before it publishes its …

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Thames Water Fined £18m By Ofwat For Breaking Shareholder …

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Dec 19, 2024 · As well as the fine, £131.3m in dividends will be clawed back by Ofwat as it said Thames Water "failed to consider" the wider impact of the dividend issuance. Money blog: …

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Thames Water Allowed To Raise Bills By 35% Despite £18m Fine

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4 days ago · Thames Water is to be allowed to hike its bills by 35% by 2030 - even as it was fined £18.2 for paying “unjustified” dividends to shareholders. The average annual bill for customers …

guardian-series.co.uk

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Thames Water Fined £18m Over Dividends But Granted 35% Bills …

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Dec 19, 2024 · Ofwat said the lion’s share of that increase, about £108 of the £152, will come in the 2025-2026 financial year. The ruling falls well short of the 59% Thames Water had said it …

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Thames Water Bills To Soar By 35% After Ofwat Ruling - MyLondon

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Dec 19, 2024 · Thames Water bills to soar by 35% after Ofwat ruling - but it's been hit with £18m fine. ... Thames Water has been given the green light by industry regulator Ofwat to increase …

mylondon.news

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Struggling Thames Water Fined $23 Million For Breaking Dividend …

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Dec 19, 2024 · Debt-saddled Thames Water, which has 16 million customers, has become a poster child for Britain's broken water sector following accusations investors have for decades …

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Thames Water Fined £18m By Ofwat For Breaking Dividend Rules

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The water regulator has ordered the company to claw back £131m in dividends and warned against taking money out of the business

thetimes.com

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Why Ofwat Issued An £18 Million Penalty To Thames Water For …

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Dec 19, 2024 · Learn why Ofwat issued an £18 million penalty to Thames Water, its measures, and how a 35% bill hike will fund essential upgrades for customers. ... Ofwat has mandated …

entrepreneurblog.co.uk

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Thames Water Faces Break Up As Ofwat Rejects Full Bill Hike

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Jul 11, 2024 · Ofwat also said Thames was “unreasonable” in planning to have a gearing ratio of 70.35% in 2030, far higher than the 55% Ofwat demanded. The regulator announced today …

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Thames Water Faces New Cash Crunch After £104m Fine - The …

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Aug 6, 2024 · As well as penalising Thames, Ofwat also hit Yorkshire Water and Northumbrian Water with fines of £47m and £17m respectively. ... The latest batch of fines, which total …

telegraph.co.uk

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Thames Water Creditors Veto Use Of £3bn Loan To Pay Fines

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Dec 3, 2024 · Thames Water’s biggest creditors have told the UK’s water regulator that a proposed £3bn emergency loan cannot be used to pay fines. Britain’s largest water company, …

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Struggling Thames Water Faces $133 Mln Fine Over Sewage Spills

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Aug 6, 2024 · Britain's water regulator plans to fine debt-laden Thames Water 104 million pounds ($133 million), close to the maximum penalty allowed, after an investigation into historic …

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Thames Water Creditors Block Use Of $3.8 Billion Loan For Fines, FT ...

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Dec 3, 2024 · Thames Water creditors have told the struggling British utilities firm that it cannot use the proposed 3 billion pound ($3.80 billion) financing package to pay fines, the Financial …

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Ofwat Hits Ailing Thames Water With £40m Fine Over Dividend …

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Jun 1, 2024 · Ofwat hits ailing Thames Water with £40m fine over dividend payment Britain's biggest water company has been warned it faces a fine of over £40m for allowing a £37.5m …

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Thames Water Fined £104m Over Wastewater Failures - City A.M.

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Aug 6, 2024 · Thames Water has been fined £104m, Yorkshire Water has been fined £47m, and Ofwat charged Northumbrian Water £17m. These fines are related to the companies’ poor …

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FAQs about Troubled Thames Water braces for enormous fines in latest Ofwat … Coupon?

Why is Thames Water facing a £40m fine?

Britain's biggest water company has been told it faces a fine of more than £40m over the payment of a shareholder dividend in spite of its poor performance. Sky News has learnt that Ofwat notified Thames Water last month that it was minded to impose the penalty for breaching rules on the payment of dividends. ...

Why was Thames Water fined £18m for 'unjustified' dividends?

The UK's biggest water company has been fined £18.2m for "unjustified" dividends which the regulator said broke shareholder payment rules. Thames Water has been hit with the penalty by water regulator Ofwat over the combined £195.8m in dividends paid in October 2023 and March 2024. ...

Will Thames Water appeal a 35pc bill increase by OFWAT?

Thames Water has said it will “take time to review” the proposed bill increases by Ofwat, after the regulator granted it a 35pc increase for bills over the next five years. The supplier said it will tell customers how much more they will pay next year by early February, but left the door open to a possible appeal against the regulator’s decision. ...

Will Ofwat fine Thames Water for breaking dividend payment rules?

(Reuters) -British regulator Ofwat said on Thursday it plans to fine Thames Water 18 million pounds ($22.67 million) for breaking dividend payment rules, the first time the watchdog is taking action against water firms that do not link payouts to performance. ...

Did Thames breach its operating licence?

Thames was last month found to have breached its operating licence after its credit rating was slashed to junk status by rating agencies. This opens up the possibility of a fresh fine of up to 10pc of annual turnover from Ofwat, which is also investigating Thames for potentially breaching rules on dividend payments. ...

Does Thames Water have a turnaround oversight regime?

Heavily-indebted Thames Water will be put into a Turnaround Oversight Regime to ensure it can fix chronic leaks and sewage spills, according to the draft ruling. Ofwat also limited the amount Thames can hike annual customer bills to £535 ($688) per household, in line with the average increase for the industry. ...