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EXPLAINED: 21 | Vintage Vibes

Financial Crisis At UK's Biggest Water Supplier Worsens

Debt-plagued Thames Water revealed Thursday that it failed to raise a major cash injection from shareholders, blaming industry regulations that made its rescue plan "uninvestable".

International Business Times

Who will win in standoff between Thames Water’s investors and watchdog?

Ofwat denies shareholder demands for higher bills and looser environmental regulation

The Guardian - UK

Regulators urged to act over water companies’ record sewage discharge

Government asked to put ‘people and planet before profits’ as analysis shows potential illegal discharging of raw sewage

The Guardian - UK

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Water companies in England face outrage over record sewage discharges

Call for environmental emergency to be declared after data reveals 105% rise in raw sewage discharges over past 12 months

The Guardian - UK

4m hours of raw sewage discharges in England in 2023, data expected to show

Exclusive: Environment Agency figures to be released on Wednesday to reveal 129% increase in total discharges on previous 12 months

The Guardian - UK

The fate of Thames Water hangs in the balance. So what are its options?

Troubled utilities firm at risk of running out of money by end of April or of cash crunch

The Guardian - UK

UK watchdogs say they will take action against ‘threatening’ debt collectors

Joint letter from regulators targets finance and utility sectors for volume and tone of correspondence to vulnerable customers

The Guardian - UK

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Put Thames Water into special administration, Lib Dems tell ministers

Party calls for firm to be wound up as it seeks shareholder bailout, higher bills and lower fines

The Guardian - UK

‘I’ve seen solid waste float by’: Surrey riverside residents try to Stop the Poo

The sewage treatment works at Horley seem to be crumbling, much like owner Thames Water itself

The Guardian - UK

Come clean on secret taxpayer rescue plans for Thames Water, MP demands

Exclusive: Sarah Olney to press in parliament for details of scheme being drawn up in event of supplier’s collapse

The Guardian - UK

Thames Water accused of ‘misleading’ customers over level of debt payments

Britain’s biggest water company said just 3p in every pound that appeared on bills went to its lenders

The Guardian - UK

Ofwat accused of cover-up over dinners with water companies

Calls for inquiry after regulator failed to declare hospitality with those it holds to account over sewage spills

The Guardian - UK

Hundreds of thousands of Thames Water customers may be unable to pay bills from April

Prediction comes as Britain’s biggest water supplier battles to stabilise its finances

Evening Standard

Thames Water lobbying government to let it increase bills by 40%

UK’s largest water company also calls for dividend payouts and lower fines for breaches to avoid taxpayer bailout

The Guardian - UK

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The Guardian - UK

Bitcoin surges through $60,000 in biggest monthly rally since late 2020 – as it happened

Cryptocurrency buoyed by flows into new ETFs that track the value of bitcoin

Evening Standard

Joe Lycett vs Sewage on Channel 4 review: a frightening dive into Britain's filthy water problem

The comedian turned investigative reporter is back and he’s lifting the lid on the appalling state of our sewage system

The Guardian - UK

Thames Water forecasts more leaks over next two years than predicted

Revision will pile further pressure on firm to invest in infrastructure amid anger over its sewage-dumping record

The Guardian - UK

Ofwat’s scheme to fine poorly performing companies ‘a gimmick’

Lib Dems dismiss plan saying water fines need to go to consumers rather than to the Treasury

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The Guardian - UK

Ofwat orders Thames Water to produce turnaround plan over sewage record

Debt-laden firm had allowed rivers to become polluted and homes to be flooded with sewage, MPs hear

The Guardian - UK

‘Elevated’ risk of hackers targeting UK drinking water, says credit agency

Moody’s warning over hacking’s effect on debts may bolster water utilities’ plans to hike bills to cover needed investments

The Guardian - UK

Water firms in England and Wales urged to invest profits in cutting bills

Suppliers expected to charge average 6% more from April despite public anger at underinvestment and sewage dumping

The Guardian - UK

Revealed: watchdogs and water bosses had dinner at private London club to discuss future

Exclusive: Meal attended by Environment Agency and Ofwat chairs attacked as outrageous example of ‘regulatory capture’

Evening Standard

Toxic sewage spills should trigger bonus ban for water bosses, says Labour

Labour has accused Tories of turning a 'blind eye to corruption'

The Guardian - UK

Tide of disapproval awaits new round of UK water companies’ price rises

News of the increases, due by the end of the month, comes amid rising anger over companies’ environmental records

The Guardian - UK

South West Water ‘not honest’ about drought preparations, watchdog claims

Devon and Cornwall had months of hosepipe bans as parts of country almost ran out of water in 2022

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