Ofwat is a shining example of all that is wrong with privitised utilities and their alleged regulators.
Pretty much everyone knows #Macquarie as the Vampire Bank, yet good old #Ofwat approved them to buy #Southern Water in 2021 after their stellar performance at #Thames! I imagine they were quaking in their Designer Crocodile Boots at Ofwats warnings to behave.
What went wrong at Thames Water and what could a bailout look like? | Utilities | The Guardian
https://www.theguardian.com/business/2023/jun/28/what-went-wrong-at-thames-water-and-what-could-a-bailout-look-like