The Thames Tideway Tunnel will add between £20 and £25 to the average bill for Thames Water customers as work on the new sewer ramps up in the next decade. Previous estimates had pencilled in a rise of up to £80 a year to fund the 15-mile long tunnelling project. Latest A Chinese court froze $182 million in assets… Silicon Valley doesn’t need more apologies… Markets Map Thames Water, which supplies water services to 15 million homes, is under major pressure to improve its performance after Ofwat chairman Jonson Cox made an an unprecedented call for the company to review its board structure and overhaul its approach to executive and shareholder payouts.

Key Takeaways:

• Thames Water has experienced a number of failures that are prompting the resignation of chairman Peter Mason. Mason has served at Thames Water for 12 years.
• Industry watchdogs have criticized Thames Water by stating they have not invested enough in maintenance and instead paid generous dividends.
• Last year, the company missed its leakage goal by a significant margin. They were also fined 20 million pounds for dumping raw sewage into the Thames in 2014.

“The Telegraph understands that long-serving chairman Peter Mason will this week announce his departure from the board after a string of fines for repeated water and sewage leaks in recent years.”

Read more: https://www.telegraph.co.uk/business/2017/07/01/thames-water-bows-ofwat-pressure-chairman-heads-exit/