Regulator stops customers from being billed for ‘undeserved’ bonuses
by Jasper Jolly and Helena Horton from on (#6SCRJ)
Ofwat uses new powers to ensure investors pay at Thames, Yorkshire, and Dr Cymru Welsh Water
Investors at Thames Water, Yorkshire Water, and Dr Cymru Welsh Water will be forced to pick up the tab for executive bonuses after the regulator determined that the sector had awarded undeserved" extra payments, worth 6.8m.
Ofwat said on Thursday it had used new powers to ensure that shareholders and bondholders at the three companies paid for bonuses because they had not adequately reflected overall company performance issues".
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