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The Guardian

Investors forced to pay for ‘undeserved’ bonuses at three water suppliers

The Guardian on
Investors forced to pay for ‘undeserved’ bonuses at three water suppliers



Ofwat uses new powers to ensure customer funds are not used for bonuses at Thames, Yorkshire, and Dŵr Cymru Welsh WaterInvestors at Thames Water, Yorkshire Water, and Dŵr Cymru Welsh Water will be forced to pick up the tab for executive bonuses after the water regulator determined that the sector had awarded “undeserved” extra payments worth £6.8m.Ofwat said on Thursday that it had used new powers to ensure shareholders and bondholders at the three companies paid for bonuses because they had not “adequately reflected overall company performance issues”. Continue reading…



Source link : https://www.theguardian.com/business/2024/nov/21/ofwat-forces-shareholders-to-pay-for-undeserved-bonuses-at-three-water-firms

Author : Jasper Jolly and Helena Horton

Publish date : 2024-11-21 11:46:42

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Tags : The Guardian

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