The Environment, Food and Rural Affairs Committee (EFRA) will quiz the CEO, CFO and Chair of Thames Water in a public hearing of the Committee at 10am on Tuesday 13 May.
While the two-hour evidence session will be wide-ranging in its scope, it will focus on Thames Water’s financial survival and ownership. Answering questions on behalf of Thames Water will be Chris Weston, CEO, Sir Adrian Montague CBE, Chair, and recently appointed CFO, Steve Buck.
As part of its reforming the water sector inquiry, the EFRA Committee has in the last few months taken evidence from other major water and sewerage companies, including United Utilities, South West Water, and Severn Trent Water, but was not able to hear from Thames Water due to the sub judice resolution.
To inform its inquiry the EFRA Committee wrote, in March, to the executives of Ofwat, the Environment Agency, the Drinking Water Inspectorate, and Natural Resources Wales, to request information on investigations opened by Ofwat into water companies since 2015, and the four organisations’ allocation of resources to investigations.
During the session, MPs are expected to pose questions to the Thames Water bosses on the following areas:
- Leadership and culture at the company
- Recent court case and appeal
- Current ownership
- The future of Thames Water
- Thames Water’s selection of KKR as its preferred bidder
- Price review, performance, and penalties
- Returns to investors and profitability
- Executive pay and bonuses
The session can be watched live on Parliament TV, here.
