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UK government proposes higher compensation for water company failures

UK government proposes higher compensation for water company failures LONDON, Aug 12 (Reuters) - British water companies that fail their customers will have to hand over higher compensation to affected households and businesses under plans announced by the government on Monday. Under the proposals, compensation would be doubled where water companies failed to meet key standards to which customers were legally entitled, such as failing to provide notice of supply interruptions and missing arrange
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London's FTSE 100 falls after U.S. recession fears spark global rout

REFILE-UPDATE 1-London's FTSE 100 falls after U.S. recession fears spark global rout Refiling to restore dropped number "100" in headline FTSE 100 down 2.0% , FTSE 250 off 2.8% Utilities sector leads losses John Wood Group plummets after Sidara walks away from buyout By Purvi Agarwal, Roshan Abraham Aug 5 (Reuters) - The UK's main stock indexes kicked off the week on a downbeat note, led by losses in utilities as fears of U.S.
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Barclays cuts UK water utilities on negative sector outlook; shares fall

BUZZ-Barclays cuts UK water utilities on negative sector outlook; shares fall ** Shares of UK water companies Pennon PNN.L , United Utilities UU.L and Severn Trent SVT.L all open lower between 4%-5% ** FTSE 100 .FTSE down 2.13% while FTSE midcap .FTMC down 2.57% ** Pennon down 5.2% at 598p, United Utilities down 4.9% at 1,007 and Severn Trent down 4.2% at 2,542p ** Barclays says it is no longer so positive on the sector following Ofwat's Draft Determinations and annual performance reports of the
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United Utilities, Severn Trent shares down on wastewater probe

UPDATE 2-United Utilities, Severn Trent shares down on wastewater probe Updates share move in paragraph 2, adds Thames Water's bond move in paragraph 4 July 16 (Reuters) - Shares in United Utilities UU.L and Severn Trent SVT.L fell on Tuesday after the UK's water regulator opened enforcement cases into them, as well as two others, as part of its ongoing probe into wastewater management.
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Rising risk of UK's Thames Water being broken up, JPMorgan warns

UPDATE 1-Rising risk of UK's Thames Water being broken up, JPMorgan warns Adds detail and quotes from paragraph 4 By Marc Jones LONDON, July 15 (Reuters) - The financial future of Britain's biggest water firm , Thames Water , looks increasingly uncertain in the wake of new pricing and spending limits laid out by regulator Ofwat, according to investment bank JPMorgan.
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Rising risk of "disruptive outcome" for Thames Water, JPMorgan warns

Rising risk of "disruptive outcome" for Thames Water, JPMorgan warns LONDON, July 15 (Reuters) - The financial future of Britain's biggest water firm Thames Water looks increasingly uncertain, investment bank JPMorgan warned on Monday. Analysts at the bank said they were concerned that UK regulator Ofwat’s tough stance on financial resilience laid out last week may increase balance sheet risks in UK water sector and that Thames was now facing particular risks.
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London stocks end higher on boost from utilities

UPDATE 1-London stocks end higher on boost from utilities For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 up 0.4%, FTSE 250 adds 1.3% US CPI dipped 0.1% in June UK GDP grows 0.4% in May, sterling hits four-month high Updated at 1550 GMT By Purvi Agarwal, Roshan Abraham and Pranav Kashyap July 11 (Reuters) - UK stocks closed higher on Thursday, propelled by utilities shares, while an unexpected fall in U.S.
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UK water companies sign up to government reform plans, minister says

UK water companies sign up to government reform plans, minister says LONDON, July 11 (Reuters) - British water utilities have signed up to the government's initial package of reforms for the sector, environment minister Steve Reed said on Thursday after meeting with representatives from 16 companies. “After meetings with water bosses this afternoon, they have now signed up to my initial package of reforms as we work towards cleaning up our water, prioritising the interests of water customers a
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Britain builds moat around leaky Thames Water

BREAKINGVIEWS-Britain builds moat around leaky Thames Water The author is a Reuters Breakingviews columnist. The opinions expressed are his own. Updates to add graphic. By Neil Unmack LONDON, July 11 (Reuters Breakingviews) - Thames Water may yet fail, but the rest of the sector should be okay. That’s one way to read the latest edict by British water regulator Ofwat.
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UK water utilities up after Ofwat's bill increase boosts optimism

BUZZ-UK water utilities up after Ofwat's bill increase boosts optimism ** Shares of water utility companies climb as British water regulator Ofwat allows average bills to be raised by 21% ** Pennon, which also named Laura Flowerdew as new CFO , up 7.6% at 666p ** Severn Trent SVT.L up 3% at 2,694p; United Utilities UU.L up about 2.4% at 1,091.5p ** Regulator says for the next five years, companies will be able to increase average bills by 94 pounds ($120.87) ** The proposal from Ofwat was lower
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Europe edges higher before US CPI test

LIVE MARKETS-Europe edges higher before US CPI test STOXX 600 up 0.5% Eyes on CPI Wall St futures lower Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com EUROPE EDGES HIGHER BEFORE US CPI TEST Major European equity markets are up on Thursday, with most of the sectors in the green, as investors look ahead to U.S.
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European shares rise on soft U.S. inflation data

UPDATE 2-European shares rise on soft U.S. inflation data For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window German inflation confirmed at 2.5% in June DNB up after Q2 beat on higher fees Ambu jumps after it hikes outlook, reports Q3 beat STOXX 600 up 0.6% Updated at 1615 GMT By Shristi Achar A and Shubham Batra July 11 (Reuters) - European shares extended gains on Thursday as more upbeat earning updates and softer-than-expected U.S.
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Water company Pennon names insider Flowerdew as CFO

UPDATE 1-Water company Pennon names insider Flowerdew as CFO Adds details on CFO appointment from the statement, background July 11 (Reuters) - British water company Pennon PNN.L on Thursday named company insider Laura Flowerdew as its new CFO as current finance boss Steve Buck is leaving the firm for personal reasons. Shares of Pennon have fallen nearly 20% since Buck took on the role of chief finance officer in December 2023. C urrently the customer and digital officer of Pennon, Flowerdew was
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UK Stocks-Factors to watch on July 11

UPDATE 1-UK Stocks-Factors to watch on July 11 Adds new items, updates futures July 11 - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0 .2%. * OFWAT: Britain's water regulator Ofwat proposed lower bill hikes and less investment than water companies had asked for, laying out a plan which it said would help improve Britain's sewage pollution crisis while maintaining a fair price for consumers.
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UK water companies must improve without big bill rises, regulator says

UPDATE 4-UK water companies must improve without big bill rises, regulator says Ofwat sets average bill rise at 21% vs 33% requested Water UK says Ofwat investment proposal not enough Government sets out tighter regulation plans Adds sewage spills reduction in paragraph 9, Thames Water response in paragraphs 12-13 By Sarah Young and Paul Sandle LONDON, July 11 (Reuters) - Britain's regulator told water companies they needed to fix leaks and cut sewage spills without raising bills as much as they
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Water company Pennon's CFO steps down

Water company Pennon's CFO steps down July 11 (Reuters) - British water company Pennon PNN.L said on Thursday that its chief financial officer (CFO) Steve Buck was stepping down for personal reasons, within nearly a year in the role. Buck will be succeeded by Laura Flowerdew, a company insider and previously CFO at Bristol Water BTW_pa.L , Pennon said in a statement.
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Pennon Group CFO Steve Buck Steps Down

BRIEF-Pennon Group CFO Steve Buck Steps Down July 11 (Reuters) - Pennon Group PLC PNN.L : CFO SUCCESSION CFO STEVE BUCK STEPS DOWN STEVE WILL BE SUCCEEDED BY LAURA FLOWERDEW Source text for Eikon: ID:nRSK9565Va Further company coverage: PNN.L
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UK's Ofwat proposes average water bill rise of 21%

UK's Ofwat proposes average water bill rise of 21% LONDON, July 11 (Reuters) - Britain's water regulator Ofwat said average bills would rise by 21% over the next five years, lower than asked by water companies, in an initial decision on the industry's future amid a sewage pollution crisis and funding problems at Thames Water. Reporting by Sarah You
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JPM sees growth for UK utilities with investment boost, regulatory clarity

BUZZ-JPM sees growth for UK utilities with investment boost, regulatory clarity ** Shares in UK utilities .FTUB6510 up 0.5% at 727.3 pence vs FTSE 100 index .FTSE which is flat at 0.03% ** J.P. Morgan predicts continued growth for UK utilities with increase in investment and regulatory clarity ** Predicts rise in National Grid's NG.L and SSE's SSE.
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Labour win spells more regulatory clarity for UK utilities, JPM says

Labour win spells more regulatory clarity for UK utilities, JPM says July 5 (Reuters) - British utilities are expected to benefit from an increase in investment and regulatory clarity after the centre-left Labour Party's victory in the parliamentary election, analysts at JP Morgan said on Friday. The FTSE utilities index .FTUB6510 was up 0.6% by 0921 GMT, with gains led by British Gas owner Centrica CNA.L and power plant operator Drax DRX.L .
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