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Thames Water
- Thread starter JohnD
- Start date
"Potential future investors include Castle Water, the UK’s largest independent business water retailer, which acquired Thames' business customer operation in 2017.
Castle Water was founded by Graham Edwards, who is the Conservative party's treasurer and has donated millions of pounds to it over the years. Mr Edwards is also a shareholder and director at Castle Water."
Who would have thought it?
Castle Water was founded by Graham Edwards, who is the Conservative party's treasurer and has donated millions of pounds to it over the years. Mr Edwards is also a shareholder and director at Castle Water."
Who would have thought it?
See, a Tory founded company bailing out Thames water. You should show some gratitude.
"Thames Water boss keeps bonus despite missing target after restatement
Embattled utility undershot cash flow goal to trigger awards for Chris Weston and other managersChris Weston took a £197,000 bonus last year for three months’ work after joining in January 2024
Gill Plimmer and Robert Smith in London
PublishedJULY 26 2025
Thames Water is allowing senior executives to retain bonuses awarded last year, even though an accounting restatement meant they missed a cash flow target.
Chris Weston, chief executive of the beleaguered utility, provoked outrage when he took a £197,000 bonus last year for just three months’ work after joining in January 2024. Thames Water argued that the award was justified because targets for the year had been met.
However, in its annual report last week, Thames acknowledged that it had been forced to restate its accounts, meaning that it would have undershot an operating cash flow target needed for the full bonus to pay out. The remuneration committee decided that if the new accounting treatment had been applied beforehand, then the target would have been set lower and concluded: “After full deliberation, the committee decided that no adjustment was required.”
FT.com
Good to see the customers rising bills are put to good use.
Hope are they being propped up by the tax payer?
The government was warned against interfering with bonuses because the right candidates wouldn’t be attracted. £200k isn’t much in the grand scheme of things
For three months.
- Joined
- 7 Nov 2023
- Messages
- 13,437
- Reaction score
- 7,755
- Country
He was only there for 3 months but the bonus was for the year because targets had been met.
You mean he was being paid for work he didn't do.
- Joined
- 7 Nov 2023
- Messages
- 13,437
- Reaction score
- 7,755
- Country
Basically, he was very lucky to have taken the job when he did.
Privatised water continues to go from strength to strength.
"Gill Plimmer in London
Published 35 MINUTES AGO
England’s privatised water companies have recorded a sharp rise in the number of sewage pollution incidents and water supply outages despite increases in customer bills.
Water regulator Ofwat said on Thursday that pollution outflows were “unacceptable” while supply interruptions were at “unreasonable levels” with “too many customers . . . being impacted by long duration interruptions”.
Serious pollution incidents had increased 27 per cent between 2020 and 2025 despite pledges by water companies to cut them by 30 per cent, according to Ofwat’s annual performance report.
In a separate report, the Environment Agency said all but one of the water companies had performed poorly on pollution, with Severn Trent the only one to receive full marks under its rating system, despite 62,085 sewage spills, each averaging seven hours, in 2024.
Thames Water received one star, the lowest rating, after the number of serious pollution incidents more than doubled in 2024 from 14 to 33.
Ofwat also found that interruptions to water supplies had risen 8 per cent over the five-year period as a result of burst mains and failures at water treatment works."
FT.com
"Gill Plimmer in London
Published 35 MINUTES AGO
England’s privatised water companies have recorded a sharp rise in the number of sewage pollution incidents and water supply outages despite increases in customer bills.
Water regulator Ofwat said on Thursday that pollution outflows were “unacceptable” while supply interruptions were at “unreasonable levels” with “too many customers . . . being impacted by long duration interruptions”.
Serious pollution incidents had increased 27 per cent between 2020 and 2025 despite pledges by water companies to cut them by 30 per cent, according to Ofwat’s annual performance report.
In a separate report, the Environment Agency said all but one of the water companies had performed poorly on pollution, with Severn Trent the only one to receive full marks under its rating system, despite 62,085 sewage spills, each averaging seven hours, in 2024.
Thames Water received one star, the lowest rating, after the number of serious pollution incidents more than doubled in 2024 from 14 to 33.
Ofwat also found that interruptions to water supplies had risen 8 per cent over the five-year period as a result of burst mains and failures at water treatment works."
FT.com
