I used to be price my six-figure bonus, says under-fire Thames Water boss

Thames Water chief govt Chris Weston has apologised to clients and promised to show the failing utility firm round. 

He informed Sky Information: “I am sorry that the service that the shoppers obtain… it is not the place we want it to be, everybody may be very dedicated by way of attempting and sorting it out.

“So, completely I am very sorry concerning the service some individuals obtain, however it’s going to completely get mounted.”

It got here after a tense look in entrance of MPs from the Surroundings, Meals and Rural Affairs choose committee throughout which his personal bonus of £195,000 – which he obtained after simply three months within the position – was referred to as into query.

The parliamentary listening to coincides with spiralling payments for patrons, who face paying tons of of kilos extra for his or her water provide over the approaching years.

He defended the payout, saying he had joined the struggling firm in January 2024 as a result of it “issues to society”.

He added: “I believe that inside the first three months, I did make a distinction. I began to place in place the brand new organisation construction, I began to provide individuals confidence and reassurance about how proud they could possibly be of the job they did and what we have been getting down to do.”

Thames Water clients have confronted important service disruption in recent times, together with a boil water discover in Bramley, close to Guildford, final summer season and a 40% rise in sewage spills in 2024.

It has additionally struggled to boost funding, repay its debt pile, which now stands at £19bn after an emergency mortgage prevented it from working out of cash and getting into state management.

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Additionally showing earlier than the committee was Thames Water chairman Sir Adrian Montague, who tried to reassure MPs that they’d get the agency’s funds again on observe regardless of current moments of close to collapse.

He mentioned: “The very fact of the matter is, as we have famous on a number of events, Thames within the final 12 months has come very near working out of cash solely.

“There have been occasions within the final 12 months that we had 5 weeks’ liquidity – and working a £20bn company on 5 weeks’ liquidity, truthfully, it is hair-raising.”