Environmental groups urge the water regulator not to allow Thames Water to 'wriggle out' of massive fine
Environmental groups urge the water regulator not to allow Thames Water to 'wriggle out' of massive fineThames Water may avoid paying a £104m fine for historic sewage spills as the regulator Ofwat is leaving the door open to negotiation with the firm,Thames Water has been handed out the largest fine , followed by Yorkshire Water and Northumbrian Water .
Chair and founder of River Action Charles Watson said: “Thames Water has proven itself to be a persistent polluter, so we believe it has forfeited the right to negotiate its way out of paying a massive fine levied by the regulator.”It is understood that Ofwat is looking for alternatives to issuing the fine given the precarious financial position of Thames Water, which has said it only has sufficient funds in place to continue operating until next May.
Ofwat is now in a standoff with Thames Waters’ investors who reversed a commitment to invest a further £500m into the company earlier this year, arguing that the tougher regulatory environment has made the firm “uninvestable”. Since coming into power, the Government has announced plans to put water companies under “special measures”, which will include automatic fines for sewage spills and making water bosses personally liable for pollution.
A big shareholder may need to make a statement about the fines, as the situation is becoming increasingly untenable, a source told
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