Water companies in England and Wales are proposing substantial water bill increases over the next five years, despite company executives receiving over £25 million in bonuses and incentives since 2019. Thames Water has faced criticism for rejecting a last-minute rescue proposal from a British hereditary peer aimed at resolving its financial issues and avoiding nationalization, instead opting to proceed with a creditor-led rescue plan. The company’s customers are now subject to a £25 surcharge on their water bills for the next 20 years to cover costs, including a £100 million overrun on the London 'super sewer' project, whose boss received a £600,000 pay rise. Thames Water has also confirmed receiving a second bid amid ongoing financial challenges. Separately, South West Water has agreed to pay a £24 million penalty following an Ofwat investigation into sewage failures and wastewater spillages.