Thames Water - report says Ofwat created "twisted" incentives for management to “run company into the ground to maximise short term returns & leave it, bloodless, to next set of owners”
A new report is suggesting that Ofwat created "twisted" incentives for management to “run the company into the ground to maximise short term returns and leave it, bloodless, to the next set of owners” and that investors should have spotted three key red flags.
Thames Water's second largest investor writes value of holding down from £955.8m in 2022 to £364.4m in 2023
The Universities Superannuation Scheme Ltd (USSL) the largest private pension fund in the UK and Thames Water’s second largest investor, has written the value of its holding down from £955.8 million in 2022 to £364.4 million in 2023.
Statkraft to acquire major Loch Ness pumped storage hydro project from Intelligent Land Investments Group
Norway-headquartered Statkraft, Europe’s largest renewable power generator, has agreed to acquire the Red John Pumped Storage Hydro Scheme, from Intelligent Land Investments Group (ILI).
Financial woes at Thames Water continue as Fitch Ratings downgrades holding company Kemble to 'CCC'
Fitch Ratings has downgraded Thames Water’s holding company Kemble Water Finance Limited's Long-Term Issuer Default Rating (IDR) and senior secured debt rating to 'CCC' from 'B'. The Recovery Rating remains 'RR4'.
Yorkshire Water – US investor looking for the exit?
US investment firm Corsair Infrastructure Partners is considering selling its 30% share in Kelda Group, owners of Yorkshire Water, according to a report in The Sunday Times.
FT warns Thames Water debts have risen to over £18 billion as result of parent company loans
A report in today’s Financial Times entitled "Thames Water owners pile group with debt" says that Thames Water's debts have risen to over £18 billion – up from just over £15 billion from 31 March 2022.
UK Export Finance - £226m deal will see UK firms win £100m in export contracts to build new 350km drainage system in Iraq
The UK’s export credit agency has secured £226 million in financing for the Iraqi government to develop over 350km of drainage infrastructure - the transaction is expected to support over £100 million in UK export contracts.
Ofwat welcomes additional £4.6 billion of investment to the water sector since 2020
The water sector has attracted £4.6 billion in additional money from shareholders since 2020, according to Ofwat’s annual Monitoring Financial Resilience Report (MFR) published today for the year ended 31 March 2023.
Moody's warn UK water firms' funding needs for investment programme rise significantly amid growing social risks
Water companies in England and Wales will require around £272 billion for enhancement expenditure in 2025-50 to advance services and improve performance, according to an estimate from Moody's Investors Services based on the companies' own forecasts.
Thames Water warns Ofwat: AMP8 plan not financeable without enabling increased rate of return for investors
Thames Water has published a detailed analysis of risk and analysis warning Ofwat that its AMP8 business plan is simply not financeable without allowing an increased rate of return for investors to raise the financial capital needed.
News Showcase
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ABB launches digital platform for optimizing operation of water networks
ABB has launched AquaMaster+™, a digital platform for smart water network management, designed to help water utilities monitor, analyze and manage their water networks, preventing pipeline water losses and optimizing operations. -
Safe access solutions a key requirement for water sector and other Critical Infrastructure Providers
Craig Nienaber, Business Development Manager for Safe Access Solutions (SAS) at HUBER Technology, explores why the company is seeing a growing level of interest in its safe access solutions for critical infrastructure providers, including their application in wastewater treatment assets. -
Albion Water appoints new Director of Business Development
Albion Water, the first NAV (New Appointment & Variation) to have been established in1999 and now under the ownership of SDS Water Group, has appointed Andy Holland as its new Director of Business Development. -
Webinar to explore moving indirect potable water reuse to full implementation
UK water companies are invited to join an upcoming webinar which will explore how the sector can take indirect potable reuse (IPR) from concept to full-scale operational reality.
Expert Focus
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Other Latest News
- Northumbrian Water outlines £100m procurement plans for specialist Advisory Services to support major strategic infrastructure programmes
- Southern Water set to progress £30m investment to reduce storm overflows in new areas of Sussex and Surrey
- Scottish Water expands renewable energy generation at Blairlinnans Site with 648 more solar panels
- Mining Remediation Authority seeks supply chain interest in Wemyss Metal Mine Works scheme
- Water and sanitation in focus at UN General Assembly High-level Week 2026
- White Horse Reservoir - Thames Water seeks supplier interest in upcoming procurement of £48m contract for Independent Technical Advisor
Watch
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Southern Water showcases last footage inside Yew Hill Reservoir before filling
Southern Water has released film and images showing what it’s like to walk inside Hampshire’s expanded Yew Hill underground reservoir for the very last time, before it gets filled with water. -
Scottish Water completes £235m investment in two-way connection between drinking water networks
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply. -
United Utilities accelerates investment to reduce spills from storm overflows across Northwest
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Top Stories
- Northumbrian Water outlines £100m procurement plans for specialist Advisory Services to support major strategic infrastructure programmes
- White Horse Reservoir - Thames Water seeks supplier interest in upcoming procurement of £48m contract for Independent Technical Advisor
- Anglian Water invites suppliers to register interest in upcoming £60 million Fens and Lincolnshire Reservoirs Early Works Partner (EWP) procurement
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