Thames, Southern, SES and South East have been named as the water firms with the worst financial performance in the UK.
Regulator Ofwat said the companies had been told fix holes in their finances and were being closely monitored.
It comes after doubts were raised about the future of Thames Water, the UK’s largest supplier, earlier this year due to its £14bn debt pile.
It comes after doubts were raised about the future of Thames Water, the UK’s largest supplier, earlier this year due to its £14bn debt pile.
The regulator, which rejected those claims, has vowed to keep a close eye on water company finances and said on Thursday that Thames was among a group of suppliers singled out as having “significant issues to address”.
The four firms were all taking action to “strengthen long term financial resilience”, it said.
Responding to Ofwat’s findings, Thames Water said its network had come “under unprecedented pressure” over the past year from record temperatures, a drought and a cold snap. Inflation had also affected its performance.
“In short, our performance was not as we – or our customers – wanted it to be. Despite this, we are in a robust financial position and maintain a strong liquidity position, including £3.6bn of cash and committed funding,” a spokesperson said.
SES said its business was “financially resilient” and that its shareholders had committed to investing £7m into the company over the next five years.
Thames, Southern, SES and South East have been named as the water firms with the worst financial performance in the UK.
It comes after doubts were raised about the future of Thames Water, the UK’s largest supplier, earlier this year due to its £14bn debt pile.
Regulator Ofwat said the companies had been told fix holes in their finances and were being closely monitored.
The regulator, which rejected those claims, has vowed to keep a close eye on water company finances and said on Thursday that Thames was among a group of suppliers singled out as having “significant issues to address”.
It comes after doubts were raised about the future of Thames Water, the UK’s largest supplier, earlier this year due to its £14bn debt pile.
It comes after doubts were raised about the future of Thames Water, the UK’s largest supplier, earlier this year due to its £14bn debt pile.
The regulator, which rejected those claims, has vowed to keep a close eye on water company finances and said on Thursday that Thames was among a group of suppliers singled out as having “significant issues to address”.
The four firms were all taking action to “strengthen long term financial resilience”, it said.
Responding to Ofwat’s findings, Thames Water said its network had come “under unprecedented pressure” over the past year from record temperatures, a drought and a cold snap. Inflation had also affected its performance.
“In short, our performance was not as we – or our customers – wanted it to be. Despite this, we are in a robust financial position and maintain a strong liquidity position, including £3.6bn of cash and committed funding,” a spokesperson said.
SES said its business was “financially resilient” and that its shareholders had committed to investing £7m into the company over the next five years.
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