Oct 26, 2023
Regulator reveals water firms with worst finances
Thames, Southern, SES and South East water have been named as the water firms with the worst financial performance in the UK. Regulator Ofwat said the companies had been told fix holes in their finances and were being closely monitored. The regulator, which rejected those claims, has vowed to keep a close eye on water company finances and said on Thursday that Thames was among a group of suppliers singled out as having "Significant issues to address". It also said it would keep a closer watch on four other suppliers with potential problems: Affinity Water, Northumbrian Water, Portsmouth Water and Yorkshire Water. Fears over financial management in the sector have come as many water companies face heavy criticism due to sewage discharges and leaks. Last month, Ofwat ordered water companies to pay back £114m to customers through lower bills after missing key targets.
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