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The Thames Water Authority was founded in 1974 , under the terms of the 1973 Water Act . It was a successor to several statutary water supply and catchment area management bodies, including:
Thames Water was privatised in 1989 , with transfer of its regulatory, river management and navigation responsibilities to the National Rivers Authority , which later became part of the Environment Agency . In 2001 , Thames Water plc was acquired by the German utility company RWE . Thames Water is Britain's champion water leaker, for which it has been repeatedly criticised by the industry regulator OFWAT and fined by the Environment Agency. The headquarters of Thames Water are located adjacent to Reading Bridge on the River Thames in Reading . REFERENCES
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