Revealed: Yorkshire Water boss was paid extra £1.3m via offshore parent firm | Water industry

Yorkshire Water, one of Britain’s largest water suppliers, has received 1.3 million pounds in extra fee that has not been announced before 2023 through an open sea parent company since 2023.

Nicola Shaw received £ 660,000 from Kelda Holdings, which was recorded by Yorkshire Water’s Jersey during the 2023-24 and 2024-25 financial years. The size of the wages was not announced in the annual report of Yorkshire Water Services, a subsidiary.

Public service company at first KELDA Holdings’s parent company “Private Organization registered in Jersey and subject to separate explanation frameworks.

Yorkshire Water said that the requirements of payment and bonus payments fully complies with the regulator and that the extra payments related to Kelda Holdings were paid by shareholders, not by those who pay invoices.

Regulated water companies should notify the principals’ fees in their annual accounts each year, but the parent companies do not have the obligation to explain the wages to the regulator or public. There is no obligation to explain the executive wage of companies in some open marine privacy, including Jersey.

Water companies, as important invoices increase at the same time, the sewage flowing into the rivers and seas of the UK is under intense examination in recent years. Politicians and campaignists expressed their anger on the million-pound wage packages given to senior executives, but last week, Guardian revealed that the average wage for chief managers was still 5% in 2024-25 financially.

In June, the government took action to prohibit bonuses for the bosses of water companies guilty of the worst environmental violations. Yorkshire was one of the six companies captured by the bonus ban, after accepting a payment of 40 million pounds in March for overpdowing storm overflow as a result of weak care. In 2017, he received a fine of £ 850,000 on Thursday to pump chlorine water.

Gary Carter, GMB National Officer, a union representing water workers, said: “This is another water company that does not listen to the anger and concerns of the people about the payment of unfair salaries.

“This salary is confidential and not transparent, water companies are even more weakened. Such behaviors need to end.”

Yorkshire published accounts Shaw’s payment from this company has fallen about one-third in 2024-25 financially, the previous year from £ 1,028,000 to £ 689,000, he said.

However, the accounts, Shaw and Chief Finance Director Paul Inman’s Kelda Holdings, said that they receive a fee in the financial statements of this company ”.

However, Kelda Holdings has no duty to make a statement because of Jersey’s relatively loose laws, and Yorkshire refused to say what it was paid by the parent company at first. The Singapore Government has one third of the Kelda Holdings, which is the rest of the US investor Corsair Capital, Germany’s DWS and Australian Pension Fund SAS trustees.

Refusing the announcement of the wage did not seem to violate any rule, but that meant that there was no way to know whether the total wage of Shaw has increased since the bonus ban of deputies and invoices. The company said Shaw did not charge the performance of Kelda Holdings, but did not share Kelda’s accounts.

The revelation of extra payments means that Shaw’s total fee from Kelda Group for two years is £ 1.7 million and £ 1.3 million. Inman received £ 440,000 over £ 662,000 from Kelda Group in 2024-25 years.

A Yorkshire Water Spokesman said: ız We do not believe that any of our studies on the activities related to the investor should be paid by Yorkshire Water customers. Therefore, the KELDA group’s investor participation, financial surveillance and management was paid by £ 660K for 2024-25 years and paid by the shareholders.

“This fee reflects the critical importance of the study in this period, led by Nicola, and as a result, the shareholders have directly invested in Yorkshire water in order to support the delivery of critical investment in the next five years, and with more than 600 million pounds before the end of March 2027.”

For York Central, workers’ deputy Rachael Maskell said: “When the pipes explode and rivers are polluted, Yorkshire Water’s boss hides the award of 1.3 million pounds.

“This behavior causes why water should return to public property and should be held responsible for every penny and every benefit taken.