Thames Water among six firms to have bonuses for top bosses BLOCKED by regulator

Thames Water, along with five other water companies, has been blocked from awarding bonus payouts to its executives due to serious pollution incidents and other performance issues.

Regulator Ofwat revealed that over £4million in potential bonuses were prohibited under new rules concerning performance-related executive pay.

These powers were implemented in June, following concerns that the salaries of top bosses at water firms did not reflect their environmental performance.

This means that companies are now obliged to withhold annual bonuses and other awards to directors if they fail to comply with the watchdog's regulations. These include instances of pollution, poor environmental practices, and criminal convictions.

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