Thames Water has responded after being accused by an MP in Reading of attempting to delay the payment of a fine imposed by a government regulator.
The company which manages water services in Reading and the Thames Valley has been fined £122.7 million by Ofwat, the water services regulation authority.
Yuan Yang, the Labour MP for Earley and Woodley, has accused the company of attempting to delay its payment of this fine until 2030.
She said: “Thames Water has recently received the largest fine in the history of Ofwat, the industry regulator, for illegally dumping sewage and handing out dividends it couldn’t afford. Now, those same rule-breakers are lobbying to have the fine quietly shelved until 2030. As customers, we should not accept this.
“That’s why I’m working in Parliament and the constituency to hold Thames Water to account.
“Already this year, my team and I have secured over £12,000 of bill forgiveness for customers in our area, and I’ve called for Thames Water bosses to appear in parliament so that we can question them in-person.
“A £122.7 million fine that evaporates the moment a company pleads poverty is not a deterrent.”
Ms Yang also said: “Thames Water have left customers drowning in ever-higher bills, while poisoning our rivers and paying out millions to water bosses.”
She has a survey where residents can share their experiences of the company on her website.
One of the survey questions asks whether the company ‘should be allowed to escape the fines issued by Ofwat?’
Ms Yang called for Ofwat to reject attempts to delay the fine payment.
In response to these allegations, a Thames Water spokesperson said: “Ofwat announced in August 2025 that it had authorised a payment plan for Thames Water regarding fines totalling £122.7 million imposed in May of that year.
“Ofwat said that the plan continued to hold Thames Water to account but also ‘recognised the company’s ongoing equity raise and recapitalisation process’.
“Thames Water has already paid £24.5m of this sum under the agreement.
“The remaining 80 per cent will be paid at the earliest of three possible events: 30 calendar days after the implementation of a restructuring of the company’s finances such that there is improved cash liquidity in the business; or, 30 days after it exits a Special Administration Regime if it has been in SAR; or a backstop date of March 31, 2030.
“Under legislation, a company may apply to Ofwat to request a payment plan, and it is then a matter for the regulator to agree to a plan or reject it.
“Thames Water takes its responsibilities to customers and the environment very seriously and is currently delivering the biggest upgrade to its network in 150 years.”
