Finance and investment

National Grid sells further 20% stake in National Gas

Ofgem to review wholesale energy allowances in price cap

South East pays out dividend and bonuses despite supply woes

South East Water has paid out a £9 million dividend and its chief executive has pocketed a six-figure bonus, despite a year of supply-related problems. The company’s annual results also reveal that the firm made a £74 million pre-tax loss, representing a £91 million swing compared to the £17 million profit recorded last year. Union bosses and consumer groups have questioned the appropriateness of the dividend and bonus payments, given the loss-making firm has also been blighted by performance issues.

SES Water shareholders to inject £22m into firm

SES Water’s shareholders have agreed to inject £22 million into the company to ensure its financial resilience. The equity investment is revealed within the company’s annual accounts which show revenue up to £67.4 million, however operating profits have dipped to £4.3 million.

Local wholesale pricing is ‘essential’, insists ESO

Thames top team denies bills will rise

The newly-installed leadership team at Thames Water has promised a parliamentary committee that customers will not face higher bills due to the company's financial troubles. The interim CEOs and new chair Sir Adrian Montague spoke out on nationalisation, the revolving door between regulator and regulated and the reasons for Sarah Bentley’s departure.

Thames explains £250m investment discrepancy

Pennon acquires solar sites

Pennon has acquired three solar PV generation sites that will add around 95GWh of renewable energy to the company's portfolio. This equates to 40% of Pennon's electricity usage as it works towards a target of 50% renewable self-generation as part of net zero ambitions.

Hands-off approach to energy transition is ‘unrealistic’

Time to end the binary debate about utilities ownership

Thames Water results: Five things we learnt

Thames Water has published its eagerly-awaited annual results, following a fortnight of speculation about its financial health. The headline figures show revenue grew by 4% to £2.3 billion during the past year but EBITDA dropped 3% to £1.1 billion. Also within the 183-page document were revelations about bonus payments, environmental provisions and shareholder commitments.

Thames Water overhauls bonus structure

Thames shareholders agree to inject £750m

Ovo and EDF urged to waive ‘unfair’ exit fees

Water retailers fear impact of wholesaler uncertainty