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Reading: Thames Water hit with largest-ever tremendous issued by regulator Ofwat
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Michigan Post > Blog > Business > Thames Water hit with largest-ever tremendous issued by regulator Ofwat
Business

Thames Water hit with largest-ever tremendous issued by regulator Ofwat

By Editorial Board Published May 28, 2025 1 Min Read
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Thames Water hit with largest-ever tremendous issued by regulator Ofwat

Thames Water, the UK’s greatest water supplier, has been hit by a report tremendous by regulator Ofwat.

The corporate has been fined £122.7m following Ofwat’s “biggest and most complex” investigation.

It follows two investigations associated to its wastewater operations and dividend payouts.

Of the overall tremendous, £104.5m – 9% of Thames Water’s turnover – has been levied for breaches of wastewater guidelines. It is slightly below the utmost 10% of turnover Ofwat might have utilized.

One other £18.2m penalty might be paid for breaches of dividend cost guidelines.

The tremendous might be paid by the corporate and its shareholders, Ofwat mentioned, fairly than prospects.

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These fines weren’t factored into Thames Water’s monetary planning for the subsequent 5 years. The corporate’s chief govt, Chris Weston, informed a current sitting of the Surroundings, Meals and Rural Affairs choose committee that Thames Water’s future was depending on Ofwat being lenient with fines.

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TAGGED:FinehitissuedlargesteverOfwatregulatorThamesWater
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