The Secretary of the Environment has declared that the “it was to benefit from the failure” is over “after the regulator, of the regulator, of what fed with the water of Thames Water, what.
The financial sanction follows two separate investigations that discovered failures in their wastewater operations and violations of the rules related to dividend payments.
The penalty package includes a fine of £ 104.5 million, the largest ever issued by Wat, by a “significant violation” of the company’s legal obligations in the management of Italage treatment work and a broader network. This failure, or what he said, has caused an “unacceptable impact on the environment and customs.”
In addition to record penalty, Thames Water must adhere to an execution order that requires rectifying the identified infractions related to their wastewater operations.The blasphemy trial will take place in the United Kingdom on Wednesday
A second fine of £ 18.2 million was issued to break the rules around dividend payments. From Wat’s investigation, it concluded that provisional dividends payments with total £ 37.5 million in October 2023 to its holding company, Thames Water Utilities Holdings Limited and higher dividends payments worth £ 131.3 million.
The company is now in “cash block” and the company cannot pay more dividend payments without first obtaining the focus of what.
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The Executive President of OFWATS, David Black, confirmed that this is the “first time” that the regulator has used his powers to penalize a water company payable dividends that do not properly reflect their delivery performance for customers and the environment.
While no cash finally left the company from the March 2024 payment, the regulator declared that there was a “value extraction” that will be recovered.
Black described the saga as a “clear case where the water of the Thames has been demolished and could not protect the environment.”
He said: “Our research has discovered a series of faults of the company to build, maintain and operate an adequate infrastructure to fulfill its obligations. The company also did not arrive with an acceptable Redrs package that Wave benefited the beneficial fine.
“This decision provides certainty for the company for its tight failures and what we expect from the company to come with its obligations in the future.
“The company is looking for new buyers to finance its response to provide better customer services and the environment improving operational performance and financial resilience. This provides a clear opportunity to break with the past, Thames Water Will Nasth.
The fine was well received by the Government.
The Secretary of the Environment, Steve Reed said: “The Government has launched the most difficult offensive against water companies in history. Last week we announced a record that 81 criminal investigations have been launched to water companions.
“Today of what announces the largest fine ever delivered to a water company in history. The era of the benefit of failure is over.”
Tim Farron, the spokesman for the Democratic liberal environment, asked that Thames Water becomes a public benefit company.
He said: “This is shocking but barely surprising. Thames, water has been failing for years; not investing, not maintaining and not fulfilling, and all the time has been throwing wastewater in our rivers and river paths. Meanwhile.
“This should be the last nail in the coffin for Thames water. It must become a public benefits company and what needs to be discarded and replaced by a real regulator with teeth.”
Josh Self is an editor of Politics.co.uk, follow him in Bluesky Gentleman.
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