Ofwat forces shareholders to pay for ‘undeserved’ bonuses at three water firms

Regulator uses new powers to ensure customer funds were not used for bonuses at Thames, Yorkshire, and Dŵr Cymru Welsh Water

Shareholders 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 at the three companies paid for bonuses because they had not “adequately reflected overall company performance issues”.