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HomeRenewablesbusiness financeOfwat reportedly considers reduced fines for struggling water companies

Ofwat reportedly considers reduced fines for struggling water companies

The UK water regulator is considering reducing fines for financially troubled water companies, including Thames Water.

The Financial Times reports that this potential “recovery regime” aims to support these companies by easing regulatory penalties and encouraging investment in infrastructure improvements.

The proposed regime could include fewer fines and more realistic targets for addressing issues such as sewage spills, leaks and service outages.

This framework might be implemented for up to five years, during which Ofwat would enhance its oversight to ensure compliance and progress.

Energy Live News has contacted Ofwat for comment – the water regulator declined to comment.

Energy Live News
Energy Live News
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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