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Water Companies: Executive Bonuses

I am grateful to the hon. Lady for giving way and apologise more generally for jumping up and down like a jack-in-the-box. Is she aware of Ofwat’s press release of 29 June entitled “Ofwat delivers decision on executive pay”? In that, it says that it has recently announced

“new powers that will enable it to stop the payment of dividends”

directly and in full if a company does not meet its performance targets, including environmental targets. It goes on to say:

“In line with the new guidance”,

which it published that day,

“Ofwat expects water company remuneration committees to take full account of performance for customers and the environment”,

and that, if they do not, Ofwat will intervene on every single basis. Does she not accept that the powers are already in place and being used?