UK Largest Water Utility Company Thames Water Fined $165 Million by UK Ofwat for Failure to Protect Environment in Wastewater Operations & Breaching Rules in Dividend Payments, Parent Company Kemble Water Defaulted Debt on 2nd April 2024
30th May 2025 | Hong Kong
UK (United Kingdom) largest water utility company Thames Water has been fined $165 million (£122.7 million) by UK Ofwat (Water Services Regulation Authority) for failure to protect environment in wastewater operations & breaching rules in dividend payments. Announcement (28/5/25): “ Ofwat has announced the final decision in two investigations looking into the operations of Thames Water, who will face penalties totalling £122.7m. These will be paid by the company and its investors, and not by customers. In its biggest and most complex investigation, Ofwat has been looking into all wastewater companies’ operation, management and maintenance of their sewage treatment works and sewerage networks. As part of that investigation, in August 2024, Ofwat consulted on a proposal to impose a £104.5m penalty on Thames Water, alongside an enforcement order which would require the company to take steps to ensure its compliance. Today, Ofwat has finalised both the penalty and enforcement order which have been imposed on the company. Ofwat has also confirmed its decision to impose a £18.2m penalty on Thames Water as a result of a separate investigation which found that the company had broken the rules relating to the payment of dividends. This is the first time Ofwat has used its powers to take enforcement action against a water company where their decision to make dividend payments does not properly reflect the company’s delivery performance for customers and the environment. Ofwat’s investigation into how the company was managing its treatment works and wider wastewater network uncovered failings that have amounted to a significant breach of the company’s legal obligations, which has caused an unacceptable impact on the environment and customers. This investigation considered several payments made by the company. Ofwat concluded that, interim dividend payments totalling £37.5m, made in October 2023 to its holding company, Thames Water Utilities Holdings Limited, and further dividend payments amounting to £131.3m, made in March 2024 broke the rules. Whilst no cash left Thames Water as a result of the March 2024 payment, there was an extraction of value which Ofwat will be able to recover. In addition to the penalty, through an adjustment to future price control, ensuring customers do not lose out. The company is now in cash lock up and no further dividend payments can be paid by the company without first obtaining approval from Ofwat.” In 2024 December, creditors of UK (United Kingdom) largest water utility company Thames Water parent company Kemble Water are opposing the $3.8 billion rescue plan which will handover control to senior creditors. In 2024 April, Kemble Water has defaulted on debt on 2nd April 2024 (Tuesday), and requesting lenders & bondholders to take no action for Kemble Water to explore all options on a stable platform. Kember Water lenders include ING Bank, Allied Irish Banks, Bank of China & ICBC. Kemble Water has around £15 billion of total debts.
“ UK Largest Water Utility Company Thames Water Fined $165 Million by UK Ofwat for Failure to Protect Environment in Wastewater Operations & Breaching Rules in Dividend Payments, Parent Company Kemble Water Defaulted Debt on 2nd April 2024 “
Creditors of UK Largest Water Utility Company Thames Water Parent Company Kemble Water Opposed $3.8 Billion Rescue Plan Which Will Handover Control to Senior Creditors, Kemble Water Defaulted Debt on 2nd April 2024, Requested Lenders & Bondholders to Take No Action for Kemble Water to Explore All Options, Lenders Include ING Bank, Allied Irish Banks, Bank of China & ICBC, Kemble Water Has £15 Billion of Total Debts
18th December 2024 – Creditors of UK (United Kingdom) largest water utility company Thames Water parent company Kemble Water are opposing the $3.8 billion rescue plan which will handover control to senior creditors. In 2024 April, Kemble Water has defaulted on debt on 2nd April 2024 (Tuesday), and requesting lenders & bondholders to take no action for Kemble Water to explore all options on a stable platform. Kember Water lenders include ING Bank, Allied Irish Banks, Bank of China & ICBC. Kemble Water has around £15 billion of total debts.
UK Largest Water Utility Company Thames Water Parent Company Kemble Water Defaults on Debt on 2nd April 2024, Requests Lenders & Bondholders to Take No Action for Kemble Water to Explore All Options, Lenders Include ING Bank, Allied Irish Banks, Bank of China & ICBC, Kemble Water Has £15 Billion of Total Debts
5th April 2024 – UK (United Kingdom) largest water utility company Thames Water parent company Kemble Water has defaulted on debt on 2nd April 2024 (Tuesday), and requesting lenders & bondholders to take no action for Kemble Water to explore all options on a stable platform. Kember Water lenders include ING Bank, Allied Irish Banks, Bank of China & ICBC. Kemble Water has around £15 billion of total debts.
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