Regulators have directed water companies to refund customers a sum of £114m in the coming year, owing to their underperformance. Thames Water faced the most severe impact, receiving a penalty
Last year, ten water companies did not pay taxes, even though some discharged sewage.
The ‘super deduction’ scheme introduced by Rishi Sunak during his tenure as chancellor post-Covid enabled the water industry to secure £97 million in tax rebates.
Northumbrian Water chief escalates sewage dispute with a boosted bonus
Northumbrian Water granted its CEO a 65% bonus hike, even as it landed on Ofwat’s list of the bottom six water firms.
£800 million class action lawsuit focuses on the UK’s privatized water monopoly over sewage issues
Six major UK water providers are under legal scrutiny due to allegations of not fully disclosing sewage releases into natural water bodies, which might result in substantial compensation demands.
South East Water pays £9m dividend despite heavy loss
Despite South East Water’s fall into a £74m pre-tax loss due to a surge in its debt expenses, the company has issued a multimillion-pound dividend.
Thames Water boss declines to express regret for her tenure at Ofwat, while cautioning that water bills are set to increase.
Cathryn Ross, the joint interim chief executive of Thames Water, has rejected any insinuations that her past oversight as head of the industry regulator contributed to the current financial predicament
Southern Water barred from paying dividends until at least 2025
Southern Water has been barred from issuing dividends until at least 2025 due to escalating inflation-linked debt repayments.
Share Talk Expected Market Updates For The Week Ahead, 3rd – 7th July 2023
The approaching week ushers in the fresh month of July, marking the beginning of the second half of the year for business aficionados. It has investors on the lookout for
Emergency Plans Developed for the Potential Nationalisation of Thames Water
As Thames Water, a key utility firm, struggles to manage its staggering debt of £14bn, the government is formulating contingency strategies in case of the company’s failure.
Industry leader states that a rise in water bills will fund a £10bn investment.
The Water UK chair has affirmed that while the companies will initially front the investment, they will recuperate the funds via increments to the water bills.
Share Talk Weekly Stock Market News, Sunday 21st August 2022
For the small caps the landscape this year has been brutal, governed by a liquidity crunch as investors hoarded cash in the wake of the Ukraine uncertainty, and as much
Thames Water boss Sarah Bentley on £2m a year gets £727,000 windfall
Sarah Bentley, Thames Water’s boss, will receive a total amount of £727,000 in two single payments. This comes within days of being criticised by the Environment Agency over the company’s