MPs ask minister if he will claw back Thames Water executive bonuses | Water industry

The environment secretary has been asked if he will claw back controversial bonus payments to Thames Water senior executives after it emerged some bonuses had already been paid out.

Last month, Steve Reed vowed to block bonuses that Thames Water proposed to pay to managers at the beleaguered company. The firm’s chair has been forced to admit that bonuses have already been paid to executives out of a £3bn emergency loan paid by creditors for the purpose of rescuing Thames from financial collapse.

In a letter to MPs on the environment, food and rural affairs committee, the chair of Thames Water, Sir Adrian Montague, admitted 21 members of the firm’s senior management team received a first payment at 50% of base salary on 30 April 2025. He said “the board does not intend to recover…