Water companies blocked from using customer money to pay bonuses – here's how to cut your water bill

The regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses

Protest against the state of Britain's rivers
Water companies are under pressure to clean up their act
(Image credit: Mike Kemp/In Pictures via Getty Images)

Three water companies including Thames Water, Yorkshire Water and Dŵr Cymru Welsh Water have been blocked from using billpayer money to fund “undeserved” executive bonuses. It comes at a time when water bills are already expected to rise by 21% a year over the next five years.

Ofwat, the water regulator, used new powers to step in after determining the bonus payments were not appropriate in light of performance challenges. The blocked payments amount to £1.5 million across the three companies.

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.