Six Water companies Under the new rules to be implemented on Friday, senior owners have been banned from paying bonuses.
Temes Water, Yorkshire water, Anglian Water, Wessex water, United utilities And Southern water It is said that they cannot issue bonuses for the financial year 2024/25, which was concluded in April.
All have been banned under the new rules that prevent bonuses from paying. If a water company does not meet the environment or consumer standards, financial flexibility does not meet the requirements, or is convicted of criminal offense.
Six companies are not subject to indefinite restrictions, and they may be able to award the firm for 2025/26 years, provided they stay inside Fear Rules, Pani (Special Measures) Act which applies on Friday.
If a company pays the bonus, while it is under the ban, the Water Regulator of Wat has the power to get the money back.
According to the Department of Environment, Food and Rural Affairs, more than £ 112 million in bonus and encouragement by water firms in the last ten years.
Water companies set their salary and reward package, and it is understood that if the bonus offers increases the salary to try to compensate for the banned firms, the authorities can see it.
Environment Secretary Steve Reid said: “The owner of the water company, like someone else, should only get a bonus if they have performed well, not if they have failed to deal with water pollution.
“Undesly bonuses will now be banned to clean our rivers, lakes and seas as part of the government’s plan.
“Promised, promised.”
Under the new rules, Yorkshire Water, United Utilities, Tems Water and Southern Water will all be unable to pay bonuses to the Chief Executive or Chief Financial Officer for the 24/25 financial year.
Anglian Water will be banned from giving bonuses to their Chief Executive Officer, but their Chief Financial Officer will not be banned.
Wesax Water will be banned from their Chief Financial Officer from making any additional payment, but their chief executive will be exempted.
The discount is because people were not in the post when the rules that broke the incident broke.
The campaign group River Action has called the move “welcome step”, but said that increased salary should be stopped.
Chief Executive James Walece said: “We will not eliminate pollution for profit unless water companies are ruled for refinance and public gains.
“Any attempt to increase Aadhaar salary as a work -round should be approved.
“The era of rewarding criminal leadership must end. There is no more cream for fat cats.”
Wesax Water has stated that under its own rules, “which requires the achievement of specific customer and environmental performance goals”, neither the Chief Executive nor the Chief Financial Officer will receive any bonus.
A spokesperson said: “Given further, we are planning a step change in the maintenance of our sewerage infrastructure, with a proposed investment of approximately £ 300 million by 2030.”
A southern water spokesperson said: “We focus on the government’s announcement and wait for the complete information about how it will affect our current approach for a display-related reward.
“It is already closely associated with the distribution of customer satisfaction and improvement in environmental performance.
“Any bonus is paid by shareholders, not customers, and are maintained by an independent committee.”
A water spokesperson from Yorkshire said: “Our Chief Executive, Nikola Shaw had already decided that it would not be appropriate for him to get an annual bonus this year, due to the company’s performance on pollution, and a recognition we need to improve for the communities we serve and earn trust.
He said, ‘He has decided to forgive his entitled in an additional bonus, which will be vested under our long -term incentive scheme.
“We are firm to improve our performance so that we can give our share in creating a rich Yorkshire, correct for our customers and environment.”
The utility giants will pay £ 104.5 million for violation of rules related to their wastewater operations, and an additional £ 18.2 million to break the rules related to dividend payment.