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The water company is already under investigation for a smaller £37.5 million dividend payment in October 2023, under new Ofwat rules. Thames Water confirms £158m dividend in March amid scramble ...
Although earlier small-scale water supply operations existed, the New River Company was the first water supply company and is the earliest direct ancestor of Thames Water today. [1] During the 1850s, John Snow and William Farr's identification of the 1854 Broad Street cholera outbreak provided a stimulus for the better treatment of sewage.
Thames Water has a track record of poor environmental performance, having been fined more than £30 million ($38.4 million) since 2017 for several water pollution incidents, according to the UK ...
Thames Water had asked for a rise of £231 by 2030, but that has been reduced to £152. ... in their infrastructure since they were privatised in 1989, while paying out huge shareholder dividends ...
Debts in Thames Water had gone from £3.2bn to £10.5bn by the time Macquarie had sold its stake, whilst paying out £2.8bn in dividends to shareholders during their time in control. [34] While Macquarie, once called a "vampire kangaroo" by the UK press, [35] pulled out of Thames Water, in August 2021, it bought a majority stake in Southern Water.
The water industry was privatised in 1989, according to the Conservative government's programme. The water privatisation in England and Wales involved the transfer of the provision of water and wastewater services in England and Wales from the state to the private sector in 1989, through the sale of the ten regional water authorities (RWA). [1]
Thames Water has been at the centre of growing public outrage over the extent of pollution, rising bills, high dividends, and executive pay and bonuses at the UK’s privatised water firms.
The Water Services Regulation Authority, or Ofwat, is the body responsible for economic regulation of the privatised water and sewerage industry in England and Wales.Ofwat's main statutory duties include protecting the interests of consumers, securing the long-term resilience of water supply and wastewater systems, and ensuring that companies carry out their functions and are able to finance them.