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Water industry bonus ban to be tightened as Ofwat warns of ‘damage to public trust’

The Guardian Business Thursday 12 November 2026, 07:30 UTC By Jasper Jolly 1 min read
Key Points

Regulator to hasten review over concerns that firms are ‘undermining’ rules to make large payments to bossesThe water company bonus ban is set to be tightened after the regulator accused the industry of a risk of “damaging public trust” with large payments to bosses that appeared to get around the rules. Anglian Water was singled out for particular criticism over “retention payments” worth up to £800,000 for chief executive Mark Thurston despite the bonus ban. Anglian will face increased...

Regulator to hasten review over concerns that firms are ‘undermining’ rules to make large payments to bosses

The water company bonus ban is set to be tightened after the regulator accused the industry of a risk of “damaging public trust” with large payments to bosses that appeared to get around the rules.

Anglian Water was singled out for particular criticism over “retention payments” worth up to £800,000 for chief executive Mark Thurston despite the bonus ban. Anglian will face increased monitoring of its governance arrangements because of the controversial payments.

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Ofwat (ORG) Anglian Water (ORG) Mark Thurston (PERSON) Anglian (ORG)
Originally published by The Guardian Business Read original →

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