The regulator approved a rescuer of Southern that hardly had a clean record in the sector
Ofwat is not a complete patsy and is in the business of holding companies to account, the chief executive of the water regulator argued on the Today programme on Tuesday. David Black even waved a metaphorical big stick at a couple of firms. “I think that companies like Thames and Southern really need to up their game,” he said.
He described Thames as “a repeated poor performer”. And he said Ofwat’s £126m penalty on Southern in 2019 for wastewater and reporting breaches was instrumental in forcing a change of ownership last year. “That’s an example of a company that performed poorly, that was held to account by Ofwat and the investors lost their shirt,” argued Black. “That is exactly as it should be.”
