Overview
- Anglian, Southern, Thames, United Utilities, Wessex and Yorkshire blocked performance-related awards after Ofwat applied powers introduced in June.
- Ofwat said a further £2.4 million of performance-related pay did not require a block but should not be funded by customers.
- Thames Water recorded seven category 1 pollution incidents in 2024, breached its licence on credit rating, and received a one-star environmental score, leading to no awards for its chief executive or former finance chief.
- Wessex Water triggered the rules after a criminal conviction over a sewage spill that killed more than 2,000 fish and led to a £500,000 fine, and the company said it paid no executive bonuses.
- Ofwat is consulting on forcing disclosure of director pay across regulated, group and parent companies after undisclosed Yorkshire Water payments came to light, with the current ban applying only to chief executives and finance chiefs.