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New rules banning bonuses to water companies' bosses
The Gazette
|June 06, 2025
SIX water companies have been banned from paying bonuses to senior bosses, under new rules that come into force on Friday.
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Thames Water, Yorkshire Water, Anglian Water, Wessex Water, United Utilities and Southern Water have been told that they cannot issue bonuses for the financial year 2024/25, which concluded in April.
They have all been banned under new rules which prevent bonuses from being paid if a water company does not meet environmental or consumer standards, does not meet financial resilience requirements, or is convicted of a criminal offence.
The six companies are not under an indefinite ban, and those firms may be able to offer rewards for the 2025/26 year, provided they stick within the Ofwat rules, under the Water (Special Measures) Act which comes into force on Friday.
This story is from the June 06, 2025 edition of The Gazette.
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