British water utility group based in Exeter; FTSE 250 constituent with most profits from South West Water
Thames Water has disclosed a £1m signing-on payment to CFO Steve Buck in July, drawn from emergency lending, while retention payments for top bosses are being settled. The move comes as the company battles over £20bn debt and potential government intervention, with Ofwat and ministers weighing stronger rules.
Ofwat has provisionally allowed five of 13 water companies in England and Wales to raise charges by about £3.4bn by 2030 to fund infrastructure upgrades, address PFAS and support housing and data-centre growth. Bills for several firms will rise in 2027–28 and 2029–30, with final confirmation due after consultation in December.