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...The UK’s water regulator has lashed out at the country’s water utilities for paying “significant dividends” to shareholders while failing to fix their poor environmental record, in comments that pile more...
...Dŵr Cymru, South East Water, SES Water, United Utilities, Affinity Water, Anglian Water, Bristol Water, Portsmouth Water, Severn Trent, South Staffordshire, Sutton & East Surrey Water and Wessex Water did...
...for Water....
...Other regulators, including Ofgem, the Financial Conduct Authority and the Prudential Regulation Authority, have internal audit capability requirements, the CIIA said in its letter....
...Kemble, which was set up to raise finance for Thames Water, needs the dividends to service its debt but new rules introduced last year forbid water utilities with poor financial records from making payouts...
...It is an embarrassing policy failure that the UK’s biggest water utility is drowning beneath its financially engineered, debt-laden structure....
...It is expected to produce a new business plan in coming days which could include a change in bill proposals....
...While Thames Water’s management has long insisted that Kemble’s travails should not have an impact on the regulated utility, the water company’s bonds also traded down....
...Get Thames Water right and the case for private ownership of utilities will be enhanced....
...The backtracking last month on previous commitments to invest £500mn in the troubled utility capped weeks of tension between Ofwat and Thames Water’s shareholders, which include the sovereign wealth funds...
...In today’s newsletter: Britain’s biggest water utility circles the drain Elliott’s stuck in an AC Milan fight Byju’s investors try to oust its founder Britain’s biggest water utility circles the drain...
...Thames Water’s new chief executive, Chris Weston, takes the helm of Britain’s largest privatised water company on Monday, facing the daunting task of persuading investors, lenders and regulators to support...
...South West Water, which supplies 3.5mn people with water and sewerage services in England, has been criticised by a watchdog for inadequate management and a failure to be “honest” with authorities, risking...
...Henderson, chief executive of Water UK....
...The government and water authorities “have not spent the required money on maintenance for about a decade — now they’re really just chasing their tails.”...
...a group of foreign investors of “blackmailing” regulators over the future of the country’s biggest water utility....
...Other similar incidents this year have led authorities to introduce a state of emergency in several regions....
...Additional reporting by John Reed in New Delhi and Felicia Schwartz in Washington...
...The chief executive of French waste and water group Veolia has urged European governments to do more to cut red tape on permits to speed up renewable energy projects....
...However, Ofwat also said on Thursday that 12 of the 17 companies had underspent the amount allocated to improvements such as new infrastructure in the current regulatory period — from 2020 to the end of...
...The extended area is twice the size of California and spans regions that include the Pacific and Atlantic oceans, the Gulf of Mexico and other regions....
...Kemble Water Finance purchased £500m of shares in Thames Water Limited and Thames Water Limited purchased £500m of shares in Thames Water Utilities Holdings....
...Hurricane Otis presented a “nightmare scenario” for southern Mexico, according to the US National Hurricane Center, because it strengthened at an extraordinarily fast rate, leaving little time for authorities...
...Now, Catalan authorities are planning to double the region’s capacity for desalination over the next three years....
...In 2020, four water companies had their appeals upheld by the Competition and Markets Authority after Ofwat rejected parts of their initial plans....
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