Thames Water fined £122.7m in biggest ever penalty

Thames Water has been fined £122.7m for breaching of rules relating to its wastewater operations and dividends payments.

It is the biggest ever penalty issued by the water regulator Ofwat.

The regulator said the fines followed its "biggest and most complex investigation" and confirmed it would be paid paid by the company and its investors, not by customers.

A Thames Water spokesperson said: "We take our responsibility towards the environment very seriously."

The fine issued by the water industry watchdog has ordered Thames Water to pay a £104.5m penalty for breaches of rules connected to its wastewater operations.

That is on top of an additional penalty of £18.2m for breaches relating to dividend payments.