Water Bosses Face Bonus Block: Thames Water’s “Tidal Wreck” Gets a Pay Cut
The New Rules
Starting in June, Ofwat can stop bonuses for water companies that fail to hit environmental targets under the Water Special Measures Bill. It’s a full‑blown “no‑bonus” play for reckless water firms.
Why Thames Water Is in the Hot Seat
- Thames Water – UK’s largest water company – serves about 16 million customers. Yet, it’s drowning in debt: £19 million still waiting to be paid, and it just secured a £3 billion loan to avoid collapse.
- Environmental Secretary Steve Reed blasted the company: “They’ve been dumping a tidal wave of sewage into rivers while pocketing millions in bonuses. That ends now.”
- Reed promised a crackdown: “The days of profiting from failure are over. No more unfair bonuses for polluting water bosses.”
Bonuses Breakdown
- Chief Executive Chris Weston earned a £195,000 bonus after only three months in the role.
- Chairman Sir Adrian Montague told MPs that “hundreds of thousands in bonuses are needed to keep head‑hunters at bay.”
- But the rewards come at a cost: the workforce that keeps the pipes working sees a “slap in the face” from their billions of dollars.
The Workers’ Voice
GMB National Officer Gary Carter fired back: “Paying huge bonuses to failing water bosses is a slap in the face to both workers and consumers. Thames Water’s loyal employees are its real asset. They deserve better pay, not a pile‑up of bonus money.”
What’s Next?
Once the bill takes effect on June 1st, any performance‑deficient water firm will see bonuses blocked. Thames Water’s current “bonus‑boozing” may stop at that date, giving its workforce a fighting chance and the rivers a chance to breathe again.
