The Minister of Environment was asked if he would return to the controversial reward payments Times water Senior executives after some bonuses have already been paid.
Last month, Steve Reed pledged to prevent rewards water He suggested paying to managers in the besieged company. The president of the company was forced to admit that the rewards were already paid to the 3 billion pounds of executive executives of an emergency loan.
In a letter to MPS about the Environment, Food and Rural Affairs Committee, Themes Water, Sir Adrian Montage, admitted 21 members of the company’s senior management team, received the first batch of 50 % of the basic salary on April 30, 2025. He said, “The council does not intend to recover these funds.” The letter says that the 21 individuals who received payments did not include montage himself, CEO, Chris Weston, or Financial Director, Steve Back. However, he added that Pak will be eligible for a later batch under the plan, which he confirmed “stop” pending the review.
He added that the rewards are worth 18.5 million pounds, and spread through three payments over two years: “Fifty percent of the basic salary on April 30, 2025; 50 % upon completion of [Thames Water’s] The second restructuring plan or, if it was earlier, December 2025; A final of 200 % of the basic salary was paid in June 2026. “
The Parliamentary Committee wrote to Reed asking, “If you expect the Offat payment to recover the payments that were made on April 30 to all the 21 Times Administration team.”
“We have now learned that 21 members from the Times Water -Water management team, not the CEO and financial manager, have received additional payments for their salary, in April 2025, at the uncomfortable rate that does not involve approximately 50 % of the rate of wage,” said Alexeer Karmichel, Chairman of the Committee.
“As a committee, we are trying to seek clarity whether these payments are within the jurisdiction of the government’s ban and will be recovered, given that they have not been paid to the company’s CEO or the company’s financial manager and they are called by Thames Water as” payments payments instead of retaining.
“Given that the plan includes two other retention payments, including 200 % of the basic salaries to be paid to these 21 individuals in June 2026, it is important to be a Water, Defra and Offat clearly with us about all of what is going on exactly.”
In his letter, Montage also apologized for misleading the committee after the Guardian revealed that he had incorrectly informed the deputies that the great rewards were “associated” by creditors. Say to Selection The lenders said that “very large” bonuses should be paid up to 50 % of salaries for the company’s executives from the controversial loan in order to keep the main employees. the The guardian revealed These sources, with the knowledge of the details of the agreement, indicate the documentary paper for the court and the court that while the creditors agreed to the rewards that they did not necessarily suggest.
He said: “For complete clarity, I was not mistakes.
A spokesman for the Times water said:
The CEO of the company is not a party to MRP [management retention plan] He has not received any payments yet. None of the retaining payments were funded by customers. The full details of the plan were shared with our economic organization. We will review the requests from the chairman of the chosen committee and we will return in a timely manner. “
A government spokesman said: “Very long water companies have pumped record levels of wastewater in our waterways,” a government spokesman said.
“This is why this government has banned unworthy rewards on six water companies, including the Times Water, as part of our driver to clean rivers, lakes and seas forever.
“One penny will not be paid to senior executives.”
