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11/06/2018 - Privatised water bosses rake it in

unitedutilitiesThe chief of United Utilities has taken home £12m in salary, bonuses, pensions and benefits in the last five years, new figures have revealed.


The chief executive of the private water firm, Steve Mogford, earned £2,310,000 in 2017 alone.

 

Mr Mogford’s earnings have emerged as part of a joint investigation into company accounts of England’s nine water firms by union GMB and pressure group Corporate Watch.

 

Salary, bonuses, pensions and other benefits mean the average CEO package for a privatised water company in 2017 was £1,254,000.

 

Mr Mogford’s sum of £2,310,000 was twelve times more than the Prime Minister, and a 49pc increase on the £1,547,800 the chief executive took in 2013.

 

United Utilities defended Mr Mogford’s takings but did not dispute GMB’s figures.

 

A spokesperson for United Utilities said: “The vast majority of Steve Mogford’s remuneration is linked to the delivery of stretching targets aimed at significantly improving customer service, operation delivery and environmental performance.
“In 2017, his total remuneration was approximately half the average for a FTSE 100 CEO.”

 

GMB have criticised United Utilities and other private water companies for using customers’ money to finance their CEO’s salaries.

 

GMB published the figures as it starts its ‘Take Back The Tap’ campaign to bring England’s privatised water firms back into national ownership.

 

Tim Roache, GMB General Secretary, said: “It is a national scandal over the last five years England’s hard-pressed water customers have been forced to splash out millions through their bills to go into the pockets of just nine individuals.


“Privatisation of the water industry has been a costly mistake and these eye-watering sums are further proof the water industry must be returned to public hands.

 

“GMB is urging people and politicians to Take Back the Tap and make our water services work for the many and not the few.”