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.
Copyright © 2024 Energy Live News LtdELN
Make sure you check out the latest Net Hero Podcast episode:
Net zero is a way to cut your costs and help the planet, so what’s stopping you? Often, it’s just the right help and advice. That’s what we will provide at the Big Zero Show this July. Workshops, expert speakers, case studies and exhibitions. Plus, networking with 1500 peers and potential customers. Register for free now.