Thames Water hit by £1122.7m fine after 'biggest' investigation

Thames Water, Britain's largest water provider, has been fined £122.7 million following regulator Ofwat's "biggest and most complex" investigation. Ofwat said Thames Water would pay £104.5 million for wastewater breaches - the largest fine handed out by the watchdog - and a further £18.2 million for breaking rules relating to dividend payments.

David Black, chief executive at Ofwat, said: “This is a clear-cut case where Thames Water has let down its customers and failed to protect the environment. Our investigation has uncovered a series of failures by the company to build, maintain and operate adequate infrastructure to meet its obligations. The company also failed to come up with an acceptable redress package that would have benefited the environment, so we have imposed a significant financial penalty.

“This decision provides certainty for the company for both its past failures and what we expect from the company to comply with its obligations in future.

“The company is seeking new buyers to fund its turnaround to provide better services for customers and the environment by improving operational performance and financial resilience.

“This provides a clear opportunity to break with the past, Thames Water will now need to correct the issues our investigation has identified.”

We'll be bringing you the very latest updates, pictures and video on this breaking news story.For the latest news and breaking news visit: /newsStay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you.

Follow our social media accounts here on facebook.com/DailyExpress and @daily_express