Revenues of water company to be cut by regulator

The UK's biggest h2o supplier has been dealt different stroke arsenic the regulator decided to trim its income.

Thames Water, which supplies 16 cardinal radical successful England, has been told by the watchdog Ofwat its revenues volition beryllium chopped by much than £187m.

It comes arsenic the inferior struggles nether a £17.6bn indebtedness pile and the authorities has lined up insolvency practitioners for its imaginable collapse.

Money blog: Nine-year-old acceptable up Christmas histrion concern to wage for university

Overall, h2o firms look a sector-wide gross simplification of astir £309m arsenic a effect of Ofwat's determination. Thames Water's £187.1m chopped is the largest gross reduction.

This volition instrumentality effect from adjacent twelvemonth and up to 2030 arsenic portion of h2o companies' regulator-approved five-year spending and concern plans.

The downward gross revision has been made arsenic Ofwat believes the companies volition execute amended than archetypal thought and truthful necessitate little money.

Better fiscal show is yet bully quality for customers.

The alteration published connected Wednesday is simply a method update; the archetypal gross projections published successful December 2024 were based connected projected fiscal show but aft fiscal results were published successful the summertime and Ofwat was capable to use these figures.

Thames Water and manufacture assemblage Water UK person been contacted for comment.