07 July 2006
Thames Water has been ordered by the regulator Ofwat to invest an extra £150m in repairs after missing its leakage target for the third year in a row. The sum, which must be paid for by the firm's shareholders, has been imposed rather than a fine, which would go to the Treasury.
'This will directly address the issue of London leakage,' said Ofwat on July 4.
It also imposed new targets for the next four years which are 20% tougher than the existing 894 million litres per day.
Environment minister Ian Pearson said: 'It is right that the consumer does not bear the burden of the increased investment needed for Thames Water to meet its leakage targets.
PFjul2006
