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Thames Water is among nine firms that must ensure owners and shareholders pick up the tab for £6.8 million of executive bonuses. ... it also said that £1 billion was paid out in dividends to ...
In its turnaround plan published in October, Thames Water, which is saddled with £14 billion ($17.7 million) in debt, proposed to jack up the average annual customer bill by 40% by 2030.
Investors in Thames Water have agreed to put an extra £750 million ($962 million) of equity funding into the troubled utility to hold off a temporary takeover by the government. The amount is ...
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On 10 July 2023, Thames Water shareholders agreed to provide £750m in funding, [31] short of the £1bn sought; the company also said it would need a further £2.5bn from investors by 2030. [32] In September 2023, Thames Water was one of several water companies ordered by Ofwat to pay back customers for poor performance.
In June 2023, Montague was appointed as chair of the Board at Thames Water and its parent company Kemble Water. [7] His appointment came amid scrutiny on the financial stability of the water company. [7] In February 2024, Montague resigned as chair from Kemble Water but retained his position at Thames Water. [8]
In a statement, the company said: “Ofwat is being kept fully informed on progress of the company’s turnaround and engagement with shareholders. “Thames Water continues to maintain a strong ...
In 1989 the Thames Water Authority was partly privatised, under the provisions of the Water Act 1989 [3] with the water and sewage responsibilities transferring to the newly established publicly quoted company of Thames Water, and the regulatory, land drainage and navigation responsibilities transferring to the newly created National Rivers Authority which later became the Environment Agency.