Regulator Ofwat rules that bills in England and Wales will increase by an average of £31 per year from 2025 to 2030
Thames Water to get green light to hike bills by more than a third by 2030
Thames Water has been fined £18.2m for paying “unjustified” dividends to shareholders.
Ofwat has ruled that Thames breached its licence obligations by paying £37.5m of interim dividend payments in October 2023, and a further £158.3m in March 2024.
“Ofwat’s £18 million penalty and clawing back the value of £131 million in unjustified dividend payments is a clear warning to the whole sector: We will take action against companies who take money out of these businesses, where performance does not merit it.”
