|Thames Water Poor Service Fine Reduced By £3m|
‘Firm's processes so bad it was unaware it had breached rules’ says watchdog
Water watchdog Ofwat has reduced the fine imposed on Thames Water for poor service and misreporting by nearly £3 million because the company’s processes were so bad it was unaware it had breached rules.
Ofwat showed leniency towards Thames Water after finding that they had unintentionally misreported regulatory information. The company will now have to pay £9.7m although the reduction comes from the fine for failing provide adequate information. The fine for poor customer service remains at £1.4m.
Regina Finn, Ofwat chief executive, said, "Thames Water's systems and processes were inadequate and customers lost out. The penalty reflects the importance we attach to reliable, accurate and complete information and gives a clear signal to both the company and the water sector that non-compliance is not a cheap or easy option."
Thames Water’s chief executive David Owens blamed the company’s previous ownership for the misreporting but welcomed the reduction nevertheless.
April 18, 2008