Nine water companies, including stricken Thames Water, have been prevented from using customer money to fund “undeserved” bonuses for top bosses worth £6.8 million under new powers, the regulator has announced.
Ofwat said it had stepped in to halt water companies that cannot show that bonuses are sufficiently linked to performance from using customer money to fund the payouts, amounting to 73% of the total executive awards proposed across the industry.
