Helen Campbell, Executive Director, Delivery at Ofwat, has written to the Remuneration Committee Chairs of the English and Welsh water companies warning them that excessive increases in base pay, retention payments or other types of remuneration without sufficient justification and transparency could undermine Ofwat’s objective of rebuilding public trust. 

Sir Adrian Montague, CBE, Chairman of Thames Water has written to the Rt Hon Alistair Carmichael MP, Chair of the House of Commons Environment, Food and Rural Affairs Committee to confirm that the water company’s Board has decided to maintain its ‘pause’ on management retention payments.

Alistair Carmichael MP Chair of the House of Commons Environment, Food and Rural Affairs Committee, has written separately to Thames Water Chair Sir Adrian Montague and CEO Chris Weston to ask for further clarification of the information they provided when they appeared before the Committee in person on 13 May in an uncomfortable session as part of its ongoing inquiry into reforming the water sector.

The Government has confirmed that paying bonuses in the form of retention payments to senior executives are not an an option for Thames Water, following comments by water company Chair Sir Adrian Montague when he appeared before the House of Commons Select Committee for Environment Food and Rural Affairs (EFRA) last week.