DoomsdaysCW<p><a href="https://kolektiva.social/tags/ThamesWater" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ThamesWater</span></a> boss defends exec <a href="https://kolektiva.social/tags/bonuses" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>bonuses</span></a> as <a href="https://kolektiva.social/tags/SewageSpills" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SewageSpills</span></a> soar</p><p>Thames reported a 40% rise in <a href="https://kolektiva.social/tags/sewage" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>sewage</span></a> <a href="https://kolektiva.social/tags/pollution" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>pollution</span></a> with 359 incidents in the six months to September.</p><p>Lora Jones & Simon Jack, December 10, 2024</p><p>"The boss of Thames Water has defended executive bonuses as the firm calls for a hike in customer bills to ensure its survival.</p><p>"Chris Weston said the supplier needed to offer "competitive packages" to attract talent, but the water regulator has previously said that customers must not foot the bill for "undeserved bonuses".</p><p>"It comes as the embattled company saw a 40% increase in pollution incidents in the six months to 30 September, as its debts continued to swell, according to its latest set of results.</p><p>"Thames approaches a critical moment next week, with Ofwat set to decide whether to allow a proposed 59% increase in consumer bills over the next five years.</p><p>"The ailing business is saddled with debts which stood at just under £16bn at the end of September.</p><p>"The firm has said customer bills need to rise or else it will not be able to recover from its financial crisis. However, if the company does collapse, water supplies will not be affected.</p><p>"Water firms across the UK have faced a fierce backlash over sewage discharges and pipe leaks in recent years, but Thames has been in the spotlight given its debt pile, and the fact one in four people in the UK rely on it.</p><p>"Critics have argued the water industry has historically neglected investment in favour of paying executive bonuses and shareholder dividends.</p><p>"But on Tuesday, Mr Weston defended bosses getting £770,000 in bonuses.</p><p>"'I completely understand that there are customers out there who struggle with their bills,' he added, pointing to bill support offered to about 377,000 customers in the last year.</p><p>"Mr Weston, who was hired in January, was also awarded a bonus of £195,000 for his first three months at the company." </p><p>Read more:<br><a href="https://www.bbc.co.uk/news/articles/cg4zklxgwwwo" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">bbc.co.uk/news/articles/cg4zkl</span><span class="invisible">xgwwwo</span></a></p><p><a href="https://kolektiva.social/tags/WaterIsLife" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WaterIsLife</span></a> <a href="https://kolektiva.social/tags/ThamesRiver" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ThamesRiver</span></a> <a href="https://kolektiva.social/tags/England" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>England</span></a> <a href="https://kolektiva.social/tags/PowerCorruptionAndLies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PowerCorruptionAndLies</span></a> <a href="https://kolektiva.social/tags/EatTheRich" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EatTheRich</span></a></p>