BlackRock, Inc. and Global Infrastructure Partners, a leading independent infrastructure fund manager, have today jointly announced that they have entered into an agreement for BlackRock to acquire will acquire 100% of the business and assets of GIP for a total consideration of $3 billion of cash and approximately 12 million shares of BlackRock common stock worth about $9.5 billion at Thursday’s close.

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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.

Welsh Water, the only not-for-profit water company in England and Wales, has launched a new scheme aimed at providing working household customers with vital support to pay their water bills as the cost-of-living crisis continues.

David Black, Chief Executive of water sector regulator Ofwat, has described Thames Water as a company with “deep-rooted problems of persistent poor performance and too much debt.”

Wessex Water Chairman Sir Francis Yeoh has said current projections suggest that investment will need to increase at least threefold from current levels and “we stand ready to invest further in Wessex Water for a fair return, to help finance the much enlarged future investment programme.”

The situation at Thames Water will be examined by the Environment Food and Rural Affairs Committee this morning at 9.15am when it questions the responsible government minister and the Chief Executives from the company and water sector regulator Ofwat.

Ofwat says the pandemic has exacerbated problems faced by customers struggling with bills and poor mental health – the regulator is calling on the water companies to do more to help.

The Consumer Council for Water is calling for water companies to improve the way they engage with their customers to ensure those that are struggling most to afford their water bills don’t miss out on support.

Water company United Utilities has injected £3.5 million into a trust fund to help people who struggle to pay their water bills.

New figures from an independent study commissioned by United Utilities ahead of its annual affordability summit reveal that nearly 3 in 10 (29%) North West residents are struggling to pay their bills now compared to a year ago.