It's not so much a pi$$ take than an absolute farce.
There's no time scale to the expenditure so effectively they could spend it next year or the year after. Some good that'll do us now.
Also, there doesn't seem to be anything to say they have to continue spending the same intended amount in succesive years. Therefore, next years spending could just be the ?150m and they could pocket the amount they would normally have spent.
They should have had the ?350m profit they made suspended until it was ALL spent on fixing leaks within 12 months.