Ofwat has imposed a £122.7 million fine on Thames Water due to their failure to maintain wastewater operations and improper dividend payments. The penalty includes £104.5 million for breaching environmental operational standards and £18.2 million for violating dividend payment rules, the first of its kind. Ofwat's investigation revealed significant infrastructural shortcomings at Thames Water, with calls for action from government officials. In response to the fines, Thames Water emphasizes its commitment to environmental responsibility and asserts that their dividend declarations were compliant with legal obligations.
Ofwat has uncovered a series of systematic failures by Thames Water to adequately build, maintain, and operate necessary wastewater infrastructure to adhere to its legal obligations.
The era of profiting from failure is over; the Government is committed to cleaning up our rivers, lakes, and seas for good,
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