Finance and investment

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Ofwat: We should have stepped in sooner to tackle debt

Ofwat’s chief executive has admitted that the regulator should have intervened in 2006 to prevent water companies becoming loaded with debt. David Black told a House of Lords inquiry that light touch approaches to regulation in the early 2000s had given private equity a route into the sector, but that Ofwat was now using “every tool” to bring high gearing levels down.

2 years ago

Performance woes hamper Thames’ equity hopes

2 years ago

Thames interim leaders reassure staff in leaked video message

The interim bosses of Thames Water have stressed that the company is in a "strong" position in a video message recorded for all employees. In the video - marked as "secret" - interim co-CEOs Cathryn Ross and Alastair Cochran urge staff to continue work as normal despite growing uncertainty about the company's future. 

2 years ago

Consultants ‘cautious’ about bidding for Thames work

2 years ago

Thames investors split on stumping up extra cash

2 years ago

Ofgem cracks down on excessive generator profits

2 years ago

Regulator calms Thames collapse fears

2 years ago

Ofwat confirms tougher action on unwarranted bonuses

Ofwat has confirmed measures intended to block water company bosses from claiming unwarranted bonus payments. The regulator has confirmed plans to implement an end-of-period reconciliation mechanism which would allow it to adjust a company’s revenue allowance if it does not meet Ofwat’s expectations, particularly around financial and environmental objectives.

2 years ago

Customers or taxpayer to be on hook for Thames woes

2 years ago

Thames investors risk losing everything

With the government and Ofwat preparing contingency measures for the potential collapse of Thames Water, the company’s investors are once again being asked to provide more funding. Joanna Ford, restructuring & insolvency partner at Cripps, warns that failing to stump up more cash could see investors lose everything if the worse should happen.

2 years ago

Ofwat approves £2.2bn accelerated spending

2 years ago

Ofwat chair: Business plans must be better

Water companies have been urged to get their PR24 business plans right the first time round by Ofwat chair Iain Coucher who said the quality of PR19 submissions were below what he would have expected. He told company boards to make sure firms had the right teams in place for investment ambitions that are affordable and deliverable.

2 years ago

Boiler Upgrade Scheme could constrain clean heat market

2 years ago

Utility Warehouse launches cheapest fixed tariff

2 years ago

Call for energy ‘help to repay’ scheme for 5.5m Brits in debt

2 years ago

Caution urged as fixed deals return to ‘volatile market’

2 years ago

Customers need targeted support, not blunt tools

2 years ago

Price floor introduced for energy profits levy

2 years ago

Unspent EBSS money should be used to end standard credit premium

2 years ago

Retailers urged to make energy bills clearer

2 years ago

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