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.
Debt-laden Thames Water is one of three firms – also including Yorkshire Water, and Dwr Cymru Welsh Water – which were directly blocked from allowing customers to pay £1.55 million of bonuses.
The watchdog said a further six companies had voluntarily decided not to push the cost of executive bonuses worth a combined £5.2 million onto customers, with shareholders instead paying.
Denne historien er fra November 22, 2024-utgaven av The Herald.
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Denne historien er fra November 22, 2024-utgaven av The Herald.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Starmer defends Chinese talks
SIR Keir Starmer has defended holding talks with China's President Xi Jinping, telling MPS: \"The world is safer when leaders talk.\"
A CRAZY SITUATION
ROONEY UNHAPPY ARGYLE ARE HANDED FRIDAY NIGHT SLOT
Gray is keen to prove his worth at Home Park
ANDRE Gray believes he can still perform to a high level in the Championship at the age of 33 and wants to prove it with Plymouth Argyle.
Parkway looking to pull out of the relegation zone
A POINT away from home should never be sniffed at, but Plymouth Parkway manager Chris McPhee felt it could have been all three when his side took on Swindon Supermarine in the Southern League Premier Division last week.
Customer cash not allowed for bonuses
TROUBLED Thames Water is among nine water companies prevented from using bill payers’ money to fund £6.8 million of “unjustifiable” bonuses, under new powers handed to the water industry regulator.
Tributes to Prescott, a 'true giant of Labour'
FORMER deputy prime minister John Prescott has died, aged 86, following a battle with Alzheimer's, with Sir Tony Blair leading tributes to him as a \"committed and loyal\" public servant.
'Brit missiles downed'
RUSSIA'S air defence systems have shot down two British-made Storm Shadow missiles, Russian officials have said.
Harley-Davidson and Triumph shops close
ECONOMIC UNCERTAINTY AND BUDGET MEASURES BLAMED
New gym prepares to open at Bravo Way
DATE SET FOR GRAND OPENING IN DECEMBER
M&S opens huge new Derriford food store
150 SHOPPERS QUEUE UP TO GET FIRST LOOK
