Anna Isaac

1 month ago | theguardian.com | Anna Isaac |Helena Horton

The chair of Thames Water could face more questions over his statement to parliament that large bonuses to be paid to senior bosses out of an emergency £3bn loan were “insisted” upon by creditors. Sir Adrian Montague told the environment, food and rural affairs (Efra) select committee last week that the lenders “insisted” that “very substantial” bonuses of up to 50% of salary should be paid to company executives from the controversial loan in order to retail key staff.

1 month ago | theguardian.com | Helena Horton |Anna Isaac

Ministers plan to use new powers to block bosses from Thames Water taking bonuses worth hundreds of thousands of pounds as the company fights for survival, the Guardian can reveal. Britain’s biggest water company admitted this week that senior managers are in line for “substantial” bonuses linked to an emergency £3bn loan. Thames claimed the payouts were vital to retain staff and prevent rival companies from “picking off” its best employees.

1 month ago | ca.finance.yahoo.com | Anna Isaac |Graeme Wearden

The chair of Thames Water has admitted its finances were “hair raising”, as he said bosses were in line for “substantial” bonuses linked to an emergency £3bn loan. The UK’s biggest water company came within just five weeks of running out of money, Adrian Montague told MPs on Tuesday. “Thames in the last year has come very close to running out of money entirely,” he said. He added there were times where it only had weeks’ worth of cash left.

1 month ago | theguardian.com | Anna Isaac |Graeme Wearden

The chair of Thames Water has admitted its finances were “hair raising”, as he said bosses were in line for “substantial” bonuses linked to an emergency £3bn loan. The UK’s biggest water company came within just five weeks of running out of money, Adrian Montague told MPs on Tuesday. “Thames in the last year has come very close to running out of money entirely,” he said. He added there were times where it only had weeks’ worth of cash left.

1 month ago | aol.co.uk | Helena Horton |Anna Isaac

The average household water bill in England and Wales is likely to reach £2,000 a year by 2050 if supplies are to be maintained, the industry regulator has said. In its submission to the government-commissioned water inquiry, led by Sir Jon Cunliffe, Ofwat said “significant investment” was needed to secure enough water and avoid the country running out, and that this would cause costs to be piled on to water bills in coming years.