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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...
...Investor jitters come as Ofwat is pushing them to inject more cash into the utilities....
...The utilities were privatised debt-free....
...“The focus in the United States is networks, and networks are based on the regulation of the states, not dependent on federal authorities at all,” he said....
Companies are asking for increases of up to 70% by 2030 to deliver improvements to infrastructure
...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...
...The utility has been grappling with high inflation on overall group debt of £18bn, while the government has drawn up emergency plans in case it requires temporary nationalisation....
...Shouting matches between utility companies and regulators are common in the UK....
...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....
...Still, they are a scaled-back version of the initial regulations proposed last year, as the White House vies to shield itself against mounting legal challenges from Republican states over its environmental authority...
Chancellor says UK government will never insure investors against poor decisions
...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...
...Get Thames Water right and the case for private ownership of utilities will be enhanced....
...Noe and another recent hire to Microsoft’s nuclear team were plucked from the Tennessee Valley Authority, a unionised, New Deal-era public utility that has long symbolised democratic control and ownership...
...Class action claims against five companies — Anglian, Northumbrian, Yorkshire, United Utilities and Severn Trent — have been filed to the Competition Appeal Tribunal....
...It also ran into trouble with Indian authorities over foreign exchange rules. In September, things got weird....
...That was particularly the case where authorities were slow to grant permits....
...The utility showed “complacency” and a “lack of understanding” of its own water supply system before the drought....
...The UK’s Financial Conduct Authority has interpreted on-shored EU regulations differently to the rest of Europe, meaning that investment trusts in the UK have to report their fees in a similar manner to...
..., that gives them the authority to approve labels....
...The group will use the electricity from the projects for its own plants and operations as well as offering it to other companies and local authorities....
...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.”...
Annual increase will come on top of the uplift set by Ofwat every five years
...Next month, Tanga Urban Water Supply and Sanitation Authority, a local Tanzanian water utility, will issue east Africa’s first subnational green bond....
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