Boss of water regulator Ofwat to resign

Ofwat chief executive David Black announces resignation amid government plans to replace Ofwat with a new watchdog in an industry overhaul aimed at addressing sector failings. The decision follows a report recommending significant reforms in the water sector, including increasing bills for investment, mandatory smart meters, and scrapping Ofwat. The report also criticizes water companies for pollution incidents, lack of accountability, and prioritizing shareholder payouts over financial resilience.