Worcester MP Robin Walker has written to Ofwat, the water company regulator, to support proposed measures to link water company dividend policies to their performance for customers and the environment.
The Government has been clear that companies cannot profit from environmental damage. Ofwat have outlined that water companies must be transparent about how executive pay and dividends align to delivery of services to customers, including environmental performance.
Robin backs Ofwat’s recent proposals which would provide extra powers for Ofwat to take enforcement action against companies that don’t link dividend payments to their environmental performance, or those failing to be transparent about their dividend pay-outs.
You can find out more about the performance of Severn Trent here: Draft determination of Severn Trent Water's in-period outcome delivery incentives 2021-22 - Ofwat
Robin said:
'The residents of Worcester have been clear that they expect better from their water company. They must clean up their act, tackle their pollution urgently and improve their service to customers to provide clean and plentiful water.
'I have written to Ofwat to support their proposals to link dividend payments to performance so that we can better hold them to account and improve outcomes for residents.'
