UK households, particularly those in parts of Lincolnshire served by Anglian Water, are likely to closely monitor the recent government move to prohibit bonus payments for leaders at companies including Anglian Water. This comes as a result of these firms reportedly failing to meet set environmental and consumer standards.
This decision impacts six major companies and is part of the new Water Act which came into effect on Friday. The act introduces provisions for the regulator Ofwat to retract bonuses paid to senior executives if their respective companies fail to uphold required standards in the face of potential legal action.
Such stringent measures underscore the increasing public resentment fueled by instances of sewage leaks and mounting bills while company executives were reportedly awarded £112 million in bonuses over a ten-year period.
Secretary for the Environment, Steve Reed, underscored the imperative for water companies to regain consumer trust. He also cautioned such companies to refrain from evading the ban by augmenting base salaries instead. This latest development is of particular significance to local communities in Lincolnshire that depend on Anglian Water and have voiced concerns about the quality of water and its environmental implication.
The Lincoln Post has reformatted this story which was based on original reporting provided by www.bbc.com.
