(by Karma Loveday) South East Water (SEW) found itself in breach of licence condition P26 – under which it is required to maintain two investment grade credit ratings – after Moody’s downgraded the backed and underlying senior secured ratings of its financing subsidiary South East Water (Finance) to Ba1 from Baa3. Moody’s concurrently assigned a Ba1 Corporate Family Rating and Ba2-PD probability of default rating to SEW. The outlook for both the regulated company and the fina

(by Karma Loveday) Water sector recruitment specialist Murray McIntosh has rebranded year one of AMP8 as “Year 0” – to underline the slow start, stalled programmes and talent drain that it is hearing about from contacts on the ground. The company said that despite the £104bn investment headline, capital authorisation and scheme sanctioning remain slow. Indeed, the signs are that familiar patterns are unfurling: “Years one and two bring under-mobilisation and workforce drift;

(by Karma Loveday) There will be a fixed legal challenge window for water projects under new government policy to drive through infrastructure delivery. A HM Treasury policy paper, Getting Britain building: reforming judicial review for infrastructure, seeks to protect prospective major infrastructure from long drawn out legal challenge. The top tier of protection went to major clean energy projects. These are designated of ‘Critical National Importance’ and protected from ex

(by Karma Loveday) “The taps could run dry.” That’s the stark warning from the House of Lords Environment and Climate Change Committee in a new report, Surviving drought: reclaim the rain, which followed its inquiry into drought preparedness. The report was written in the aftermath of the 2025 drought, “as England’s rivers, reservoirs and aquifers were slowly restocked after the driest spring in 132 years was followed by prolonged drought. Had winter rains not replenished wat

(by Karma Loveday) Water companies will need to demonstrate they have a fit-for-purpose asset management system in place, under plans from Ofwat to introduce a new licence condition. Following a June 2025 consultation which the regulator said was broadly supported, Ofwat is now consulting until 17 July on introducing a new licence condition under section 12A of the Water Industry Act 1991 to set clear expectations on asset management standards and to require evidence to prove

(by Karma Loveday) The Climate Change Committee (CCC) warned that drought, flood and heat are threatening the British way of life as it published A Well-Adapted UK – a new report setting out a package of actions needed to address the growing impacts of climate change. The country’s independent climate advisor identified better cooling, flood protection and a more secure water supply as the most critical priorities to protect the UK. It pointed out that disruption is already e

(by Karma Loveday) Ofwat is consulting until 3 July on revising the credit and collateral arrangements in the business retail market. It reasoned that the current arrangements were largely developed ahead of market opening, and now there is nine years’ worth of evidence on which to make revised decisions. The proposed changes involve: Backstop credit security and risk sharing – Ofwat proposed reducing the current requirement for a retailer paying wholesalers in arrears to p

(by Karma Loveday) Nineteen projects have won a share of £58m in Ofwat’s sixth Water Breakthrough Challenge competition. Each project sees water companies work in collaboration with a diverse set of partners – from environmental charities and leading universities to technology and engineering companies – with the purpose of changing how the water sector operates to transform its impact for customers, communities and the environment. The winners were: Carbon Harvesting for Ene

(by Karma Loveday) Ofwat’s former CEO David Black has joined consultancy BRG as a managing director in the European Economic Regulation practice, based in London. In his new role, he will advise firms and investors across regulated industries as they navigate shifting regulatory frameworks, the transition to net zero and broader environmental challenges, including the delivery of major infrastructure projects globally. Residents in Rhondda Cynon Taf were advised to boil their

(by Verity Mitchell) The creditors’ rescue package for Thames Water, which is said to be near to agreement, has been thrown into disarray by the potential change in prime minister. Reports have suggested that civil servants are concerned that there is no clarity from the Government about the direction of travel for Thames, and that Defra officials believe that the leadership uncertainty may prevent acceptance of the London & Valley Consortium’s proposals. A government spokesm