Thames Water to pay £18m penalty after breaking dividend rules
Regulator says it will claw back £131m in ‘unjustified’ payments as it announces companies can increase bills by 36% by 2030Water bills for households in England and Wales to rise by 36%Thames Water will have to pay an £18.2m penalty after the water industry regulator confirmed the troubled utilities company had breached dividend rules.The Guardian revealed on Wednesday that Thames would be penalised over two dividend payments, made in 2023 and 2024, and that it would allow the water company to increase bills by just over a third. The industry watchdog Ofwat confirmed the penalty and bills rise on Thursday. Continue reading...
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Regulator says it will claw back £131m in ‘unjustified’ payments as it announces companies can increase bills by 36% by 2030
Thames Water will have to pay an £18.2m penalty after the water industry regulator confirmed the troubled utilities company had breached dividend rules.
The Guardian revealed on Wednesday that Thames would be penalised over two dividend payments, made in 2023 and 2024, and that it would allow the water company to increase bills by just over a third. The industry watchdog Ofwat confirmed the penalty and bills rise on Thursday. Continue reading...
