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The regulator approved a rescuer of Southern that hardly had a clean record in the sectorOfwat is not a complete patsy and is in the business of holding companies to account, the chief executive of the water regulator argued on the Today programme on Tuesday. David Black even waved a metaphorical big stick at a couple of firms. “I think that companies like Thames and Southern really need to up their game,” he said.He described Thames as “a repeated poor performer”. And he said Ofwat’s £126m penalty on Southern in 2019 for wastewater and reporting breaches was instrumental in forcing a change of ownership last year. “That’s an example of a company that performed poorly, that was held to account by Ofwat and the investors lost their shirt,” argued Black. “That is exactly as it should be.” Continue reading...