Home / Business and Economy / Regulator Blocks £4M in Water Exec Bonuses, Demands Transparency
Regulator Blocks £4M in Water Exec Bonuses, Demands Transparency
5 Nov
Summary
- Water companies blocked from £4M in bonuses
- Regulator considers forcing disclosure of parent company payments
- Yorkshire Water CEO received £1.3M in secret offshore payments
As of November 5th, 2025, the water industry regulator Ofwat has blocked six water companies from paying out £4 million in bonuses to their executives for the previous financial year. This move comes after a Guardian investigation uncovered that Yorkshire Water's chief executive, Nicola Shaw, had received £1.3 million in secret payments via an offshore parent company.
Ofwat is now consulting on new rules that would force water companies to disclose any payments made to executives by their parent firms. This increased transparency is seen as a necessary step after the revelation about Yorkshire Water's lack of disclosure.
The regulator has also noted that while the bonus ban was in place, the average pay of water company CEOs in England and Wales still rose by 5% to £1.1 million last year. However, the pay awarded to the bosses of the six companies that did not receive bonuses did fall. Ofwat has indicated that it will continue to scrutinize executive compensation in the sector to ensure companies are held accountable.
