Apart from Dwr Cymru which has no shareholders, these firms are owned by numerous pension and funding funds based mostly everywhere in the world, whereas some have debt piles that run into the billions.
The PA news company seems to be at who these water firms are owned by, how many individuals depend on their providers and why they’re set to obtain a refund.
Thames Water is the UK’s largest water firm serving 15 million folks from Gloucestershire via to London and components of Essex and Kent.
It is owned by a consortium of pension teams and sovereign wealth funds, together with these ran by the states of Abu Dhabi and China, with the biggest portion of shares – nearly a 3rd – owned by the Ontario Municipal Employees Retirement System.
In 2023 it reported an annual lack of £30.1 million and far of the corporate’s £14 billion debt pile was constructed up whereas owned by Australian funding large Macquarie, which noticed it rise from £2.4 million in 2005 to £10 billion a decade later.
Under Ofwat’s efficiency evaluate, the corporate is predicted to pay out a rebate of £100.7 million to its clients for failing to fulfill targets on decreasing leakage, air pollution incidents, provide interruptions, mains repairs and ingesting water high quality.
– Southern Water
Macquarie now owns a majority stake within the father or mother firm of Southern Water, Greensands Holdings, which can be part-owned by banks JP Morgan and UBS, alongside funding group Hermes.
Southern Water made £284.9 million in income this yr although it has suspended dividends till 2025 after its credit standing was downgraded attributable to mounting debt.
The firm has stated it’s trying to elevate over £500 million from shareholders to take a position throughout its community in Hampshire, the Isle of Wight, West Sussex, East Sussex and Kent, the place 4.6 million folks take their water provide.
These clients are set to obtain £42.9 million after the corporate failed to fulfill all of its Ofwat targets besides on unplanned outages.
– Dwr Cymru
More than three million folks in Wales, Herefordshire and Deeside get their water from Dwr Cymru (Welsh Water), which is owned by Glas Cymru, a personal firm that exists solely to finance and handle the water firm.
It receives capital funding however has no shareholders, so would maintain any monetary surplus within the companies, although in 2023, Dwr Cymru misplaced £124.7 million with its father or mother firm making £1.5 million.
This yr the corporate failed to fulfill targets on air pollution incidents, ingesting water high quality, leakages, mains repairs and remedy works compliance however succeeded in its buyer satisfaction and was a high performer on stopping sewer flooding, with clients set to obtain £24.1 million consequently.
– Anglian Water
Anglian Water is owned by a collection of pension funds and funding teams from Australia, Canada and the UK, in addition to the identical Abu Dhabi sovereign wealth fund that owns a part of Thames Water.
It made £1.8 million this yr and has a £6.6 billion debt pile, although the corporate insisted it’s financially safe within the wake of Thames Water’s latest troubles.
Over seven million folks use Anglian Water within the east of England between Essex, Norfolk, Nottinghamshire and Buckinghamshire and collectively they’re set to obtain a rebate of £22.4 million after the corporate failed to fulfill targets on buyer satisfaction, leakage, ingesting water high quality, air pollution incidents, sewer flooding, repairs and interruptions.
– Yorkshire Water
Yorkshire Water’s 5.7 million clients throughout the northern county and people in components of Derbyshire and Lincolnshire are anticipated to obtain a rebate of £19.8 million with the corporate assembly its targets on air pollution incidents and leakage however failing on nearly every little thing else.
It is owned by Kelda Group, which was established when the water trade was privatised in 1989 and is now owned by numerous funding funds from Europe, Australia, the US and Asia.
The firm with the biggest slice of shares – 33.56% – belongs to the state of Singapore, whereas Yorkshire Water reported a revenue this yr of £544.2 million.
