What discussions has the Minister has with Dwr Cymru regarding the paying of performance-related bonuses worth £931,000 its three top executives over the past two years as part of a combined £2.6million pay package in light of its failure to deliver a solution to phosphates issues?
Though the water industry across England and Wales is privatised, we work closely with companies that operate wholly or mainly in Wales to minimise pollution, uphold them to our high regulations and maximise the quality of our drinking water.
Ofwat has set out the expectation for companies to provide robust and clear explanations of performance related executive pay. They are clear that performance related executive pay should demonstrate a link to stretching performance delivery for customers which includes environmental commitments and obligations.
Executive pay is a matter for the company’s remuneration committee.