31 Dec 2024
An investigation by The Guardian has found that Thames Water intentionally diverted millions of pounds pledged for environmental clean-ups towards other costs including bonuses and dividends. The company, which serves more than 16 million customers, cut the funds after senior managers assessed the potential risks of such a move. Discussions – held in secret – […]
27 Nov 2024
Ofwat, the economic regulator for English and Welsh water companies, says it had used new powers to ensure that bonuses at the three companies were paid by shareholders and bondholders – rather than through customer bills – because the payments had not “adequately reflected overall company performance issues”. The companies are Thames, Yorkshire, and Dŵr […]
23 Oct 2024
Reported in The Guardian Bonuses for water company bosses in England and Wales rose to £9.1m this year despite record sewage discharges into rivers and seas. More than a third of that total comprised bonuses at Severn Trent, which was fined £2m this year for “reckless” pollution but lifted its bonuses to £3.36m. Thames Water […]
14 Feb 2024
The Environment Secretary has announced that water bosses are set to be banned from receiving bonuses if a company has committed serious criminal breaches. Ofwat will be taking forward a consultation to define the criteria for a ban. That could include successful prosecution for a Category 1 or 2 pollution incident – such as causing […]