Thames Water sees profit evaporating

● Choppy waters in utility company’s latest financial year with record fine

IT systems that underpin our customer service.

“We remain committed to our push for more efficiency and innovation, including collecting and using data more intelligently — this approach has already transformed our performance in wastewater control. Most importantly, we are committed to improving the unique relationship we have with our customers across London and the Thames Valley, and protecting and enhancing the precious environment in which we operate.”

Australian group Macquarie sold its last remaining stake in Thames Water earlier this year, ending more than a decade of investment in the utility giant.

Macquarie offloaded its 26 per cent shareholding to the Canadian pension fund investor Borealis Infrastructure and the infrastructure investing arm of the Kuwait Investment Authority.

Thames Water, which can trace its roots back to the 1600s and says it serves 15 million customers across London and the Thames Valley every day, yesterday gave warning that many areas it covers would suffer low water pressure due to to the inferno at Grenfell Tower in London’s north Kensington district in the early hours of yesterday morning.