Customers pay price as water companies spend twice as much on debt as on environment investment

📆 22/3/2566 2:16:00
📰 i newspaper

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More than twice as much is spent on debts and dividends by England’s nine water and sewage companies as on reducing sewage in rivers and making other environmental improvements, analysis by theipaper has found 💧 DavidParsley50 reports

has found.

The net debt across all nine water companies amounts to around £50bn, with each company having to repay lenders – which often include their own shareholders – with interest each year. The UK’s highest paid was Liv Garfield at Severn Trent Water. Ms Garfield made £3.9m in the year to the end of March 2022, a 12-month period during which her company was fined £1.5m forNext in the pay league comes United Utilities Steve Mogford, who took home almost £3.2m, while Thames Water chief executive, Sarah Bentley, pocketed £2m even though she presided over a company that posted an £850m pre-tax loss.

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