Thames Water has agreed a payment plan with Ofwat to cover £123m in fines, as the debt-laden utility scrambles to secure funding and avert temporary nationalisation.
Ofwat Faces Axe in Regulatory Shake-Up
Ofwat is set to be scrapped as part of the most significant overhaul of the UK water industry since privatisation.
Hot Weather, Higher Bills: Water Companies to Hike Prices During Heatwaves
Smart Meter Trials to Bring Surge Pricing for Water Use During Heatwaves
Environment Secretary accelerates plans to bring Thames Water into public ownership
Environment Secretary Steve Reed has confirmed the government is accelerating preparations to temporarily nationalise Thames Water, as efforts to secure a private sector rescue falter.
Thames Water edging closer to renationalisation as KKR pulls out of £4bn rescue deal
Thames Water could be nearing renationalisation after its preferred funding partner, US private equity giant KKR, walked away from a proposed £4 billion investment.
Ofwat hits Thames Water with record £122.7 million fine
Regulator Ofwat has confirmed that the record penalties imposed on Thames Water will be borne by the company and its investors, not its customers.
Thames Water rescue deal at risk over missing assets
Fresh uncertainty has emerged in the search for a white knight investor for Thames Water, as the company faces difficulties in detailing its vast and complex network of pipes, sewage
Thames Water in takeover talks after receiving six aproaches
Thames Water has disclosed that it has received six takeover approaches from potential buyers.
Thames Water secures a £3bn rescue deal as legal challenge falls short.
The Court of Appeal has upheld Thames Water’s £3bn emergency bailout loan, rejecting legal challenges from environmental campaigners and a group of creditors.
According to the FT, CK Infrastructure has made a $9 billion bid for Thames Water.
Thames Water has received a preliminary £7 billion ($8.86 billion) bid from Hong Kong’s CK Infrastructure for a majority stake, according to a report by the Financial Times on Friday,
Thames Water secures a £3 billion emergency loan to avert collapse.
Thames Water’s £3 billion emergency loan, approved today, carries a relatively high interest rate of 9.75% and is structured in multiple stages.
Thames Water Seeks Over 35% Bill Hike Over Five Years
Thames Water to Challenge Regulator’s Decision, Seeking Higher Bill Increases