Water companies set bonus targets below performance pledges

Water companies have been called out for setting bonus targets below performance commitment levels. Ofwat’s annual assessment of performance-related pay (PRP) concludes that all companies need to improve the way that bonuses are calculated and awarded. It adds that in some cases targets used to calculate bonus payments for water company bosses were set below performance commitment levels outlined in PR19 final determinations “with no explanation as to why this was appropriate”.

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