Ofwat seeks more details on dividends and executive pay

Ofwat is consulting until 3 March on gathering more information from companies on dividends and executive pay in annual performance reporting (APR) from 2022-23 onwards.

The regulator wants detail on the requirement for companies to: demonstrate how dividends paid take account of the interests of customers; and explain how any performance related executive pay award is justified in the context of company performance overall.

Elsewhere in the consultation, Ofwat made housekeeping changes and requested some entirely new information, including on more transparent disclosures related to swaps and pensions; the enhancement expenditure associated with the replacement/upgrade of existing meters with smarter technology; and expanded reporting on greenhouse gas emissions.