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Investigations Update

28th May 2025 07:10

RNS Number : 3821K
Thames Water Utilities Limited
28 May 2025
 

Thames Water Utilities Limited

28 May 2025

 

Investigations Update

 

Ofwat Investigation into Storm Overflows

Ofwat has today confirmed details of its findings of breach following the conclusion of its investigation into Thames Water Utilities Limited's ("TWUL" or the "Company") wastewater compliance. Ofwat has issued an enforcement order which, among other things, requires TWUL within 6 months to agree remediation plans with Ofwat, alongside a penalty notice which imposes a penalty of £104.5 million.

As part of agreeing the remediation plans, TWUL will need to assess the cost and timing of the capital investment required, which has not been fully funded through the existing Final Determination.

The parallel investigation into compliance with Environmental Permits at Sewage Treatment Works by the Environment Agency ("Operation Standard") continues. Currently, there is no indication of any date for this investigation to reach a conclusion.

Ofwat Dividend Investigation

Ofwat has also today confirmed details of its findings of breach following the conclusion of its investigation into certain dividends paid by TWUL in October 2023 and March 2024. Ofwat has imposed a penalty of £18.2 million.

A Thames Water Spokesperson said: "We take our responsibility towards the environment very seriously and note that Ofwat acknowledges we have already made progress to address issues raised in the investigation relating to storm overflows.

The dividends were declared following a consideration of the Company's legal and regulatory obligations.

Our lenders continue to support our liquidity position and our equity raise process continues."

TWUL will review the enforcement order and the penalties imposed today when considering its next steps.

For further information

Investor enquiries

Fred Maroudas - Director of Corporate Finance [email protected]

Media enquiries

Suvra Jans - Head of Media Relations 07747 640810

[email protected]

LEI: 213800JKM5UQHFJOTZ25

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