South East Water slammed for £1.7m exec pay as hosepipe ban parliamentary motion tabled
EMBARGO: Immediate release
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Liberal Democrats table new parliamentary motion which would give customers a discount for hosepipe bans
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South East Water pay executives large bonuses despite millions of litres lost to leaking pipes
New research by the Liberal Democrats has revealed the water company imposing hosepipe bans in England today paid their executives a staggering £1.7 million in pay and bonuses over the past two years.
In 2021/2022 alone, the two executives at South East Water rewarded themselves with bonuses worth £422,838, this is despite the firm losing 92 million litres of water per year due to leaking pipes. Only one other water company, Affinity Water, pays their executives higher bonuses.
Pressure by the Liberal Democrats has already led to five water and sewage firms giving up their bonuses this year due to sewage discharges into rivers.
South East Water has also made £161.4 million in operating profits since 2020, according to the Liberal Democrats’ new analysis of Company House records.
Residents in both Kent and Sussex have also experienced loss of water supply repeatedly this year, with homes and schools in Tunbridge Wells having issues just two weeks ago.
Today, the Liberal Democrats have tabled a Parliamentary motion calling on water companies to give customers a discount if a hosepipe ban is enforced. The motion also calls for water companies to do more on fixing leaking pipes, amid soaring profits and executive bonuses.
Liberal Democrat Environment spokesperson Tim Farron said:
“This is a complete farce. People are paying full price for a service they aren’t receiving, all whilst South East water pays out insulting amounts in bonuses.
“How is millions of litres of water lost every year in leaks worthy of a bonus? Families are left in hosepipe ban misery because water firms haven’t fixed leaking pipes.
“The Government needs to get a grip on these profiteering water firms. The public should not be subsidising profits and bonuses whilst they can’t even water their garden or wash their car.
“Ministers have already let water firms get away with the sewage scandal, they must now at least act on leaking pipes.”
ENDS
NOTES TO EDITORS
Water Only Company Executive Remuneration 2021/22 | |||||
Company | Number of Execs | Base Pay | Bonuses, Benefits and Incentives | Pension | Total Exec Remuneration per Company |
South Staffordshire | 2 | £439,000 | £302,000 | £37,000 | £778,000 |
South East Water | 2 | £494,124 | £422,838 | £31,412 | £948,374 |
Affinity Water | 2 | £973,000 | £760,000 | £105,000 | £1,838,000 |
Portsmouth | 3 | £331,000 | £120,000 | £41,000 | £492,000 |
SES | 2 | £438,000 | £286,000 | £51,000 | £775,000 |
Total | 9 | £2,675,124 | £1,890,838 | £265,412 | £4,831,374 |
N.B. This remuneration also includes former executives who quit during the year 2021/22 | |||||
Water Only Company Executive Remuneration 2020/21 | |||||
Company | Number of Execs | Base Pay | Bonuses, Benefits and Incentives | Pension | Total Exec Remuneration per Company |
South Staffordshire | 2 | £392,000 | £347,000 | £35,000 | £774,000 |
South East Water | 2 | £452,176 | £222,985 | £90,470 | £765,631 |
Affinity Water | 2 | £575,000 | £478,000 | £120,000 | £1,173,000 |
Portsmouth | 2 | £304,000 | £182,000 | £31,000 | £517,000 |
SES | 2 | £429,000 | £293,000 | £58,000 | £780,000 |
Total | 10 | £2,152,176 | £1,522,985 | £334,470 | £4,009,631 |
N.B. This remuneration also includes former executives who quit during the year 2020/21 | |||||
Parliamentary motion tabled by the Liberal Democrats
That this House notes with concern the impact of hosepipe bans on households already struggling with the cost of living; further notes that households should not have to pay in full for a service they are only receiving in part; regrets that water companies have paid out large bonuses instead of investing in fixing water infrastructure; and calls on the Government to ensure water companies discount water bills after imposing their hosepipe bans and invest in fixing leaks to prevent the unnecessary loss of water.