Credit, Collections & Insolvency News
Ofwat has set out new proposals to improve financial resilience in the sector. These would give the regulator extra powers to stop water companies making dividend payments if the company’s financial resilience is at risk. The move would also enable Ofwat to take enforcement action against companies that don’t link dividend payments to their performance, or…
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The price cap for water retailers will rise by 0.49% for two years from April to cover bad debt costs incurred in the non-household market as a result of the coronavirus pandemic and national lockdowns. Ofwat has raised the uplift from the 0.31% increase proposed in December. Ofwat’s decision does not affect household customers. The…
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Ofwat has finalised its decision which will see Thames Water pay over £11 million to 13,800 business customers and water retailers for errors in its data which led to customers being billed the wrong amount. In addition to the financial package, Thames Water has proposed a series of undertakings which, among others, include strengthening its…
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Ofwat has urged the water sector to do more to make data open and accessible as a means to share information, collaborate on sector-wide challenges, and improve trust in the industry. The water regulator’s discussion paper says that open data means making data freely available to everyone to access, use and share, unless there’s a…
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