Thames Water has been fined £18.2 million after breaching dividend rules, with the regulator Ofwat also allowing a 35% increase in customer's bills by 2030.
Thames Water's ability to grow is severely hindered after Ofwat's decision to penalize the company for dividend payments while approving a significant increase in bills for consumers.
Ofwat has confirmed an average £152 increase in water bills for Thames customers, amid the company's ongoing struggle to secure funding and manage its debt.
The regulator rejected Thames's request for a larger rise in bills and stated that the company’s financial woes stem largely from its approaches to dividends.
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