Ofwat cracks down on water company executive pay

The regulator will apply the recovery mechanism from next year to block customers from covering inappropriate executive bonuses and will continue to report on bonus reviews annually

‘CEOs rewarded for easy carbon targets’

A study alleges that some of Europe’s top companies are handing out full bonuses for insignificant climate progress

SSE bosses should hand back bonus says Labour

The four bosses at energy supplier SSE who took home bonuses totalling £5.38million should hand them back and bring energy bills down. That’s the demand of the Labour Party which has criticised the firm for awarding the bonuses over the same time SSE was fined a record £10.5million for misspelling to their customers. The sum […]

Cable snaps over energy firm bonuses?

Energy firms should show more “restraint” when awarding their top execs bonuses, Vince Cable has suggested. Although he noted times have obviously changed since the 1980s when the energy firms were nationalised, he suggested energy firms should be sensitive to the public. The Business Secretary told the BBC: “The Government doesn’t set prices and incomes, […]

Centrica’s £16.4m for pay and bonuses ‘obscene’

The union for energy workers have condemned the payouts to Centrica’s bosses’ and slammed it as “obscene” as five executives got a total of £16.4 million in pay and bonuses last year. The figure is from its Annual Reports and Accounts for 2012, which also showed British Gas made £606 million in profits last year […]

Caroline Flint slams DECC bonuses

Energy Secretary Ed Davey took the flak from his Labour counterpart today for his department handing out millions in bonuses to staff while families struggle to pay their bills. Shadow Energy Secretary Caroline Flint claimed figures obtained by Labour raised “serious questions”, with more than 100 employees apparently given bonuses bigger than the typical annual […]