Thames Water hit with largest-ever fine issued by regulator Ofwat
Thames Water, the UK's biggest water provider, has been hit by a record fine by regulator Ofwat.
The company has been fined £122.7m following Ofwat's "biggest and most complex" investigation.
It follows two investigations related to its wastewater operations and dividend payouts.
The fine will be paid by the company and its shareholders, Ofwat said, rather than customers.
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Sky News
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The big problem facing UK as deadline to finalise US trade deal looms
When push comes to shove, the question of whether British industry faces crippling tariffs on exports to the US or enjoys a unique opportunity to grow may come back to three seemingly random words: "melted and poured". To see why, let's begin by recapping where we are at present in the soap opera of US trade policy. Donald Trump has just doubled the extra tariffs charged on imports of steel and aluminium into the US from 25% to 50%. In essence, this would turn a painfully high tariff into something closer to an insurmountable economic wall (remember during the Cold War, the Iron Curtain equated to an effective tariff rate of just under 50%). Anyway, the good news for UK steel producers is that they have been spared the 50% rate and will, for the time being, only have to pay the 25% rate. But there is a sting in the tail: that stay of execution will only last until 9 July - on the basis of President Trump's most recent pronouncements. 1:00 For anyone following these events from the corner of their eyes, this might all sound a little odd. After all, didn't Sir Keir Starmer announce only a few weeks ago that British steel and aluminium makers would be able to enjoy not 25% but 0% tariffs with America, thanks to his bold new trade agreement with the US? Well, yes. But the prime minister wasn't being entirely clear about what that meant in practice. Because the reality is that every trade agreement works more or less as follows: politicians negotiate a "heads of terms" agreement - a vague set of principles and red lines. There then follows a period of horse-trading and negotiation to nail down the actual details and turn it into a black and white piece of law. In this case, when the PM and president made their big announcement 28 days ago, they had only agreed on the "heads of terms". The small print was yet to be completed. Right now, we are still in the horse-trading phase. Negotiators from the UK and the US are meeting routinely to try and nail down the small print. And that process is taking longer than many had expected. To see why, it's worth drilling a little bit into the details. The trade deal committed to allowing some cars to pass into the US at a 10% rate and to protecting some pharmaceutical trade, as well as allowing some steel and aluminium into the US at a zero tariff rate. When it comes to cars, there are some nuances about which kind of cars the deal covers. Something similar goes for pharmaceuticals. Things get even knottier when you drill into the detail on steel. 2:13 You see, one of the things the White House is nervous about is the prospect that Britain might become a kind of assembly point for steel from other countries around the world - that you could just ship some steel to Britain, get it pressed or rolled or worked over and then sent across to the US with those 0% tariffs. So the US negotiators are insisting that only steel that is "melted and poured" in the UK (in other words, smelted in a furnace) is covered by the trade deal. That's fine for some producers but not for others. One of Britain's biggest steel exporters is Tata Steel, which makes a lot of steel that gets turned into tin cans you find on American supermarket shelves (not to mention piping used by the oil trade). Up until recently, that steel was indeed "melted and poured" from the blast furnaces at Port Talbot. But Tata shut down those blast furnaces last year, intending to replace them with cleaner electric arc furnaces. And in the intervening period, it's importing raw steel instead from the Netherlands and India and then running it through its mills. Or consider the situation at British Steel. There in Scunthorpe they are melting and pouring the steel from iron made in their blast furnaces - but now ponder this. While the company has been semi-nationalised by the government, it is still technically a Chinese business, owned by Jingye. In other words, its steel might technically count as benefiting China - which is something the White House is even more sensitive about. 👉 Tap here to follow Politics at Jack and Anne's wherever you get your podcasts 👈 You see how this is all suddenly becoming a bit more complicated than it might at first have looked? This helps to explain why the negotiations are taking longer than expected. But this brings us to the big problem. The White House has indicated that Britain will only be spared that 50% tariff rate provided the trade deal is finalised by 9 July. That gives the negotiators another month and a bit. That might sound like a lot, but now consider that that would be one of the fastest announcement-to-completion rates ever achieved in any trade negotiations in modern history. There's no guarantee Britain will actually get this deal done in time for that deadline - though insiders tell me they think they could be able to finalise it in a piecemeal fashion: the cars one week, steel another, pharmaceuticals another. Either way, the heat is on. Just when you thought Britain was in the safe zone, it stands on the edge of jeopardy all over again.
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BBC News
an hour ago
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'My credit score has been destroyed by fake energy debt'
A woman who had a prepayment meter forcibly installed in her home over a debt she did not owe says her credit score is still ruined years Asante – a church pastor – spent years battling with Scottish Power over a non-existent debt before the company apologised and wiped the remaining balance last Favour says her credit score is still ruined due to the false debt and she remains unable to get a credit card or take out a phone Power said it had removed the credit markers against Favour's record last year but she is concerned her score could take years to recover. The energy firm said: "We've shared with credit reference agencies that she has a prepayment meter with a zero balance, which should have a positive impact on her credit score."The error began when Scottish Power wrongly believed she owed them more than £2,000, which eventually led to the firm forcibly installing a prepayment meter into her Glasgow home in late 2022, while she was out of the country visiting was later discovered that the false debt had arisen because Scottish Power had wrongly opened and closed multiple accounts in her name. The company has since recognised the mistakes, apologised and wiped the Favour said she remains unable to take out a loan, phone contract or get a credit card because of the default on her account. It comes as thousands of energy customers are set to receive payouts, and could see debts written off, in response to widespread controversy over the force-fitting of prepayment meters into people's announcement last month followed a review by the energy regulator Ofgem, and could see eligible customers receiving payments starting at £40 and rising up to £1, years, energy companies were allowed to force-fit prepayment meters into people's homes when bills went unpaid but a scandal erupted during the energy cost crisis of 2022 when suppliers were found to have forced the meters on vulnerable intense criticism, Ofgem introduced a moratorium on forced installations in 2023 but allowed companies to restart the practice less than a year later – albeit with stricter rules in place to protect vulnerable customers who have been affected by the practice of force-fitting prepayment meters over the years have told BBC Scotland News that the compensation payments do not compare with how heavily their lives were impacted. Favour told the BBC: "It's really affected me emotionally, financially, and it's also ruined my credit score because a bill that wasn't mine was forced into my name and given to the credit agencies."For the last six years I have been on the list for not getting any credit from anywhere due to that."My credit score has been ruined, I can't apply for anything at the moment. What I've been through compared with £1,000 is not enough."Favour said she no longer trusts energy companies after the ordeal. 'No compassion' The review from Ofgem into this practice had an assessment period of 1 January 2022 to 31 January 2023, meaning Favour could be eligible for compensation. But many other customers may not has epilepsy and asthma and says that a long-running disagreement with her energy company at the time had a severe impact on her 34-year-old nursing student told the BBC she was so distressed by having a prepayment meter forcibly installed into her home that she had multiple seizures which resulted in who lived in a one-bedroom council flat in Fife at the time, says her then-energy supplier Npower increased her monthly bills from £60 a month in 2014 to about £200 - and said she had a debt of about £1, disputed this which led to a row that would continue for another three claims that a wiring issue with her storage heating meant that it was turning on when it shouldn't have been, including when she was at work. When she called Npower to ask them to assess the issue the company was "really forceful and harassing" and "threatening with bailiffs"."They had no compassion or consideration that there was clearly a huge issue for a one-bedroom flat," she said several appointments were made for the firm to visit and investigate an issue with the heating, but nobody showed up. 'It was torture' Then, in 2017, she returned home from work to find that her flat had been broken into and a prepayment meter installed."They couldn't attend to check my meter but they could attend to force entry into my house," she said."I was having a lot of seizures at the time because of the stress. It really freaked me out and made me feel so unsafe."Energy firm has since acquired Npower and Rebekah says that her debt was finally written off in December 2024 after she applied for a winter heating scheme for vulnerable she believes that even if she were to receive compensation, it would not be enough."It was a constant battle," she said."I had to miss work countless times due to the seizures. I'd end up with horrific injuries."And yes, my debt has now been wiped off and I'm grateful for that, but the stress of it was torture."An Next spokesperson said: "While this case predates our acquisition of Npower and Rebekah was not an customer at the time, we are pleased that we have since been able to offer direct support and resolve the issue for her." Organisations such as Citizens Advice Scotland have long-opposed the practice of forced installations even prior to it catching headlines in 2022, and raised particular concerns around safeguards in place for vulnerable a 62-year-old cleaner from Hamilton, told the BBC she remains affected to this day by having a prepayment meter forced into her home in 2015."I was a single mother, working-part time on minimum wage, and came in from work one day right before Christmas to see an envelope with new keys in it," she said. "They'd broken in and put a prepayment meter in."Susan said she had fallen into debt of about £3,500 with energy provider EDF after struggling with the death of her father alongside having a disability and mental health issues."I know it was my fault for racking up the debt and I buried my head in the sand, but they never gave me the option to pay it off in instalments at all and I didn't know they'd break in when I wasn't there," she said."It was so upsetting because I couldn't talk to anybody about it and I was embarrassed about the debt. I didn't want my family to know."Susan thinks there are not enough protections in place to support vulnerable customers who find themselves in debt, and says she would have agreed to a repayment plan if she had been made aware it was an said: "If they'd have told me they were coming, I would have arranged to take time off work so that at least there wouldn't be people in my house when I wasn't there."I'm not vulnerable now like I was then, I am doing much better, but there were not measures in place to protect vulnerable people."It was just awful. They could see that a kid lived here, that it was Christmas. What a time of year to do that to somebody."Susan said because prepayment meters are generally more expensive than other payment methods, her bills are a "fortune" and she is still paying off the debt to this has been approached for comment. Distressing cases As of 2024, Ofgem has introduced rules which means companies cannot force-fit meters if an occupant of the house is over 75 with no other support, is under two years old, needs energy for health reasons, or suffers from a chronic or terminal Vyas, chief executive of Energy UK, which represents energy firms, said suppliers had been working closely with Ofgem to meet the regulator's requirements, but said there were instances where forced fittings were Advice Scotland director of impact David Hilferty said the compensation scheme is welcome said: "We have always opposed forced installations as they take away people's choice, pushing them to pay money upfront which they often can't afford."Our network has seen many distressing cases over the years of people who have been forced to disconnect their heating supply or go into debt as a result of this, so it's right that they should be compensated."What's important now is that suppliers deliver this compensation quickly and do the right thing for those who have experienced unnecessary harm."
