Thames Water fined

The Ofwat water industry regulator has fined Thames Water nearly £123 million following investigations into breaches of the rules relating to its wastewater operations and dividend payments.

The more than £104 million penalty for failings, amounting to a “significant breach” of the company’s legal obligations in the management of its treatment works and wider wastewater network, is the largest ever fine issued by Ofwat.

An £18.2 million penalty resulted from a separate investigation which found the company had broken rules relating to the payment of dividends.

Unite general union general secretary Sharon Graham said: “This fine for paying out dividends is just too little, too late. This company needs to be returned to public ownership and it must be the owners not the workers who pay the price for its failure.”