Thames Water, the UK's largest water and waste company, reported a loss of £1.65 billion, with debts increasing to £16.8 billion. Pollution incidents surged to 470, with a significant fine imposed for sewage discharges. The firm attributes challenges to prolonged wet weather but plans heavy investments in waste management over the next five years. A hosepipe ban will soon impact parts of southern England as operations remain under scrutiny amid fears of potential collapse since the company has struggled for two years.
Thames Water reported a loss of £1.65 billion for the year to March 2023, coinciding with an increase in debt to £16.8 billion, amid pollution concerns.
Chief executive Chris Weston stated that despite financial challenges, Thames Water is focused on reducing pollution incidents and plans significant investment in its waste network over the next five years.
The company faced increased scrutiny due to a 122.7 million pound fine for breaching sewage spill rules, while pollution incidents rose to 470, exacerbated by prolonged wet weather.
Thames Water set to implement a hosepipe ban affecting customers in parts of Oxfordshire, Gloucestershire, Wiltshire, and Berkshire amidst ongoing operational difficulties.
Collection
[
|
...
]