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.
Of the total fine, £104.5m has been levied for breaches of wastewater rules, while £18.2m will be paid for breaches of dividend payment rules.
The fine will be paid by the company and its shareholders, Ofwat said, rather than customers.
Thames Water serves 16 million customers across London and the South East.
This breaking news story is being updated and more details will be published shortly.
Please refresh the page for the fullest version.
You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.
