Bosses’ bonuses banned at six water companies

A number of water companies have been banned from paying “unfair” bonuses to some of their senior executives under new rules, the government has announced.

The measures apply to water companies that do not meet environmental and consumer standards, are not financially resilient or have been convicted of a criminal offence.

There has been growing public concern about sewage spills and rising bills for years while water companies have paid out £112m in rewards to executives over the past decade.

Under the new Water Act, six firms are banned from paying some bonuses this year including Anglian Water, Southern Water, Thames Water, United Utilities, Wessex Water and Yorkshire Water.

The ban, which is backdated to April 2024, means regulator Ofwat can force firms to claw back bonuses that have…