Ofwat has published its annual Water Company Performance Report. The net sector underperformance penalty companies reported to Ofwat for 2023-24 amounts to 157.6 million pounds. As a result, customers will be charged less than they otherwise would have been in 2025-26. The exact amount to be returned to customers will be finalised in December 2024.
"Companies must implement actions now to improve performance, be more dynamic, agile and on the front foot of issues. And not wait until the government or regulators tell them to act," Ofwat CEO, David Black said.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.