UK regulator Ofwat reduces Thames Water's proposed 44% rate increase to 23% over 5 years.
UK regulator Ofwat has reduced proposed rate increases for water companies, cutting Thames Water's proposed 44% increase to 23% over the next five years. Ofwat has approved the request, amid concerns about reducing pollution and attracting investors. The decision comes as shareholders pulled the plug on £500m of emergency funding for Thames Water, leading to speculation that the government may nationalize the company. The UK's water and sewage companies are facing demands to upgrade Victorian-era infrastructure, increase water supplies for a growing population, and comply with stricter environmental regulations.
July 10, 2024
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