Thames Water says it will raise base pay of bosses if Ofwat limits bonuses

Struggling water firm tells regulator for England and Wales proposals would make it hard to attract talent to sector

Troubled Thames Water has threatened to increase the salaries of its executives if the industry regulator sees through on plans to limit bonuses for the bosses of water companies.

The company, which serves more than 16 million customers across London area and the Thames valley, is attempting to stabilise its debt-laden finances. It has told Ofwat that it intends to raise base executive pay.