Thames Water chair admits to MPs that its finances were ‘hair raising’

Adrian Montague also said bosses may receive ‘substantial’ bonuses and apologised for letting customers down

The chair of Thames Water has admitted its finances were “hair raising”, as he said bosses were in line for “substantial” bonuses linked to an emergency £3bn loan.

The UK’s biggest water company came within just five weeks of running out of money, Adrian Montague told MPs on Tuesday.