Thames Water has faced a record fine of £122.7 million from the water regulator Ofwat due to significant violations related to its wastewater operations and improper dividend payments. The fine marks Ofwat's largest penalty ever, stemming from what the regulator described as its most extensive investigation. Importantly, the imposed penalties will be covered by Thames Water and its investors rather than passing the costs onto customers. The breakdown of the fines includes £104.5 million for the breaches in wastewater operations and an additional £18.2 million for issues related to dividend payments.
Thames Water has been fined £122.7m, an unprecedented penalty by Ofwat, for severe breaches in wastewater operations and dividend regulations.
The water regulator Ofwat emphasized that this fine was a result of its most extensive and complicated investigation to date.
A spokesperson for Thames Water stated their commitment to environmental responsibility amidst the substantial fine imposed.
The £122.7m fine consists of £104.5m for wastewater operations and £18.2m linked to dividend payment violations.
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