Ofwat has set out new proposals to improve financial resilience in the sector which would give the regulator extra powers to stop water companies making dividend payments if the company's financial resilience is at risk.
Thames Water has published its annual results for the year to March 2022 – commenting on its performance, Sarah Bentley, Chief Executive Officer says “we know our performance isn’t yet where it needs to be, and we are only at the beginning of our turnaround journey. However, there are early signs we’re on the right path.”
The Board and shareholders of Thames Water have approved a £11.5 billion business plan for the current regulatory period ending 31 March 2025. The revised business plan represents a £2 billion increase in expenditure, compared to the £9.6 billion agreed in the water company’s final determination for 1 April 2020 to 31 March 2025.
Ofwat Chief Executive David Black has set out the regulator’s expectations for water companies and investors at the upcoming Price Review in 2024.
A new report released today by non-profits CDP and Planet Tracker reveals how financial institutions are exposed to significant risks posed by depleted and contaminated water supplies - with US$13.5 billion in assets already stranded and US$2 billion at risk in four key infrastructure sectors due to water issues.
United Utilities intends to seek shareholder support at its AGM in July 2022 for the introduction of a new climate change measure in its long-term incentive plan that aligns with its previously announced carbon pledges.
Ofwat has today published a discussion paper setting out options to strengthen water companies' financial resilience.
nmcn has this morning announced that it has entered a refinancing arrangement whereby the company will be fully re-capitalised through an equity raise of £24 million to £29 million and a new banking facility of £7.5 million to £8.5 million.
Severn Trent has today announced its intention to conduct a non-pre-emptive placing through the issue of new ordinary shares, Retail Offer shares and Subscription Shares to raise approximately £250 million following Ofwat's decision to endorse an award to Severn Trent of £565 million (2017/18 prices) for its Green Recovery proposals.
Water sector regulator Ofwat has published its fifth annual report on the financial returns and financial resilience of water companies.
HUBER Technology are sponsoring and exhibiting at the Water Equipment Show, The International Centre, Telford 16 May 2024.
HUBER Technology will be exhibiting at the Utility Live at the NEC Birmingham 21 – 22 May 2024 - Stand H22
Manufacturer of variable frequency drive (VFD) technology Invertek Drives Ltd has celebrated producing its three millionth VFD - just three years after the two-million milestone, demonstrating rapidly growing demand for its energy-saving solutions.
Future Water Association, a leading organisation driving transformation within the water sector, has announced the recipients of its esteemed awards, recognising the outstanding people contributing to the industry.