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The Independent UK

Business

Holly Williams

Water firms blocked from using billpayer cash for ‘unjustifiable’ bonuses

Ofwat Thames Water James Wallace Steve Reed Dwr Cymru Welsh Water River Action Yorkshire Water

Troubled Thames Water is among nine water companies prevented from using billpayer money to fund £6.8 million of bonuses under new powers handed to the regulator (PA) - (PA Wire)

Troubled Thames Water is among nine water companies prevented from using billpayer money to fund £6.8 million of “unjustifiable” bonuses under new powers handed to the regulator.

Ofwat said owners and shareholders of the water firms will instead have to pick up the tab for the payouts after it found they were not linked closely enough to company performance.

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