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15.07.25 - 09:18
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Thames Water boss warns of decade-long turnaround as losses hit £1.6bn (The Guardian)
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Troubled utility blames rainfall as pollution incidents rise by a thirdIt will take at least a decade to turn troubled Thames Water around, the boss of the UK's biggest water company said, as it slumped to a £1.6bn annual loss.The loss for the 12 months to 31 March comes after a profit of £154m the previous year, even though revenues climbed by 8.7% to £2.7bn. Continue reading......
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15.07.25 - 08:48
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FTSE 100 index on brink of 9,000-point record; Thames Water reports £1.6bn loss – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsThames Water made a loss last year despite a rise in revenues, as customers were hit by higher bills.The company has reported a £201m increase in underlying revenues, to £2.603bn.This increase was driven primarily by rises in our charges for water and wastewater services, per our allowed regulated revenue. Our 2024/25 allowed revenue reflects a Consumer Prices Index including Owner Occupiers' Housing costs (CPIH) inflation rate of 4.2%, regulator-approved “K” factors of -4.9% for water and +4.1% for wastewater.These increases were partially offset by historic wholesale and retail Outcome Delivery Incentive (ODI) penalties, which have a two-year lag flowing through into revenue“We invested a record £8.5 billion in infrastructure between 2020 and 2025. We enter the new regulatory period of 2025-2030 in a better place than we entered the 2020-25 period with leakage at its lowest ever level, down by 13.2% since 2020. A defining moment last ye...
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14.07.25 - 15:18
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English water firm doubles CEO′s pay despite ′elevated concern′ over finances (The Guardian)
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Boss of Affinity Water, which serves 3.9 million customers in London and south-east, receives £1.6mBusiness live – latest updatesA water company serving 3.9 million customers in London and south-east England has doubled the pay of its chief executive, despite the regulator saying it had “elevated concern” over its financial situation.Affinity Water said its chief executive, Keith Haslett, received £1.6m for the 2024-25 financial year, up from £709,000 the year before. Continue reading......
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14.07.25 - 14:00
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Thames Water announces hosepipe ban as dry weather depletes reservoirs (The Guardian)
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Restrictions to come into effect in Gloucestershire, Oxfordshire, Berkshire and Wiltshire from 22 JulyThames Water has announced a hosepipe ban as a record dry spring and summer has severely reduced water supplies.Households in Gloucestershire, Oxfordshire, Berkshire and Wiltshire will be banned from using hosepipes to wash cars or water gardens from Tuesday 22 July. Continue reading......
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12.07.25 - 12:12
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Thames Water spent £136m on securing emergency funding, leaked document suggests (The Guardian)
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'Atypical expenditure' document suggests utility's costs over 12 months outstripped the £130m it paid in finesThames Water spent at least £136m on the effort to secure emergency funding over 12 months, according to a leaked document that suggests costs outstripped the £130m the struggling utility paid in fines.The law firms Linklaters and Akin Gump received £45m and £26m respectively during the financial year to March 2025, and another 10 firms were paid more than £1m, according to a document listing “atypical expenditure” for the year, seen by the Guardian. It is the first time the fees paid by Thames Water have been detailed publicly. Continue reading......
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