Thames Water fined a record PS122.7 Million – will the customers pay?
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What happened?
Of this total fine, PS104.5 millions relates to wastewater management breaches, including pollution incidents, infrastructure failures, and other violations.
An additional PS18.2 million penalty addresses improper dividend payments made in 2023 and 2024, despite the company’s poor performance.Impact on customers
Ofwat has confirmed that the fines will be paid by Thames Water and its shareholders, not by customers.
However, the company’s financial struggles, including a PS16 billion debt, have raised concerns about future service quality and potential bill increases.
Government response
Environment Secretary Steve Reed emphasised the government’s commitment to holding water companies accountable, noting that 81 criminal investigations have been launched into water companies.
What does this mean for you?
While customers won’t directly pay for these fines, the situation highlights the importance of regulatory oversight in ensuring water companies prioritise environmental responsibility and customer service.
Ricky Willis is the original Skint Dad. Money-making enthusiast and father to Naomi. He’s always on the lookout for new ways to make a little more money.
