Thames Water plans 10% bill rise

Thames Water plans to raise bills by more than 10% above the cost of inflation over a five-year period.

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Thames Water apologises to customers without water

Thames Water has apologised to customers in the E14 postcode area who are without water this morning.

The company said engineers were working to resolve the issues as soon as possible.

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E14: Sorry to customers who are without water this morning. Our engineers are on site working to fix the issue as soon as possible.

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Thames Water defers corporation tax 'for a decade'

Thames Water, the UK's biggest water company, does not expect to pay any more corporation tax for up to a decade, it said, as an above-inflation rise in bills saw its profits rise by nearly a fifth.

Thames Water to defer liability tax Credit: Thames Water

The firm says its infrastructure investments of £1 billion a year over the next seven to 10 years mean it will be able to defer £20 million a year in tax liabilities.

The firm, which is at loggerheads with regulator Ofwat over customer charges, has already built up a deferred tax bill of £855.6 million and its latest plans will see this rise to more than £1 billion.

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Ofwat: Thames' extra bill increase was not justified

Water regulator Ofwat has rejected a bid by Thames Water for an additional price hike for 2014 to 2015 of 8%.

We said we would challenge Thames' application, in the interests of customers. We did just that and on the evidence provided we are not convinced that an extra bill increase is justified.

– Ofwat's chief regulation officer Sonia Brown
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Ofwat rejects Thames Water's bid for 8% bill rise

Water regulator Ofwat has turned down Thames Water's application for an additional price increase for 2014 to 2015.

The water regulator Ofwat has ruled Thames Water's price hike must remain at 1.4% above inflation. Credit: Press Association

Ofwat says it was for Thames Water to justify the proposed 8% increase was in customers’ interests.

Within the three month timescale for assessing the application, the water regulator found the evidence the company submitted did not justify its proposed £29 additional increase in customers' bills.

Ofwat’s decision means the maximum that Thames can add to customers’ bills for 2014-15 is still 1.4% above inflation, as set in the 2009 price review.

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