Third of total comprises bonuses at Severn Trent as indebted Thames nearly doubles payouts to executivesBonuses for water company bosses in England and Wales rose to £9.1m this year despite record sewage discharges into rivers and seas.
More than a third of that total comprised bonuses at Severn Trent, which was fined £2m this year for “reckless” pollution but lifted its bonuses to £3.36m.
Thames Water almost doubled its payouts to executives, from £746,000 in 2021-22 to £1.3m in 2023-24, despite its CEO quitting halfway through the year.
Data from Companies House, analysed by the Liberal Democrats, show that overall bonuses increased from £9.013m last year to £9.127m this year.The payouts pile further pressure on the regulator, Ofwat, to intervene in the decisions of water company boards. Last year, raw sewage was discharged for more than 3.6m hours into rivers and seas, a 105% increase on the previous 12 months. Continue reading…
Source link : https://www.theguardian.com/business/2024/oct/20/water-companies-raise-bonuses-record-sewage-discharges
Author : Helena Horton Environment reporter
Publish date : 2024-10-20 21:30:55
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