Ofwat fines Thames Water £123m, cites ‘unacceptable’ impact on environment – business live

Thames Water fined nearly £123m, including biggest ever penalty from OfwatThe penalties against Thames Water will be paid by the company and its investors, not customers, the regulator has said.Ofwat’s investigation found that interim dividend payments worth £37.5m in October 2023 to the holding company, Thames Water Utilities Holdings Limited, and further dividend payments worth £131.3m in March 2024 broke the rules.Last week we announced a record 81 criminal investigations have been launched into water companies. Today Ofwat announce the largest fine ever handed to a water company in history. The era of profiting from failure is over. The Government is cleaning up our rivers, lakes and seas for good. Continue reading...

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