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This seems a little confusing to me.
They aren't allowed to raise up rates too fast because they missed targets related to sewage and leaks.
But the only way for them to fix it is to spend more money on tackling sewage and leaks, which would come from raising rates.
There is definitely the argument that the dividends and bonuses should be used for this rather than raising rates, but that is different to preventing rate raising because service levels were too low.
That's why companies that get privitised are so keen to issue dividends and bonuses: If it turns out there has been shit going on, the dividends are long gone, and it's extremely difficult to claw them back.
Bunch of utter bastards. Issue massive dividends, saddle the companies with massive debt, then wait for the implosion that gets bailed out by the govt. So either the money lenders or the taxpayer pick up the tab.
I completely agree with your position, and surely that's the one that should be taken by the regulators.
But it isn't.
It's not the only way, they could operate at a loss to make up for their mistakes.
❤️
Believe it or not, once upon a time in the not too distant past, companies would earn smaller profits to produce better quality products and services. But now the mantra is all-consuming growth, regardless of actual quality and performance.
You completely miss the point of my comment.
But that's fine.