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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

Bosses at six water firms had £4m in bonuses blocked under new rules, Ofwat says

Raw sewage and river debris accumulate on a river
In June the government banned bonuses for water companies that failed to protect the environment from the worst pollution incidents. Photograph: Geoffrey Swaine/Rex/Shutterstock

Water company bosses were blocked from receiving £4m in bonuses for the last financial year – and the industry regulator is considering forcing companies to report pay received from parent companies after a Guardian investigation.

Ofwat, the regulator for English and Welsh water firms, said six companies had complied with the new rules governing the sector and did not pay out bonuses to bosses. However, it is consulting on further rules to force the disclosure of payments by other companies after the revelation that Yorkshire Water’s chief executive, Nicola Shaw, had received £1.3m in secret payments via an offshore parent company.

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