Water: Bills and Executive Remuneration

Lord Kirkhope of Harrogate Excerpts

Tuesday 3rd July 2018 Lords Chamber

[Lord Gardiner of Kimble]

I feel I am repeating exactly what Ofwat has announced, as it is the statutory regulator, in terms of its requirements on increasing transparency on both dividends and executive pay. We are absolutely clear that this is a public service provided under private ownership and there are responsibilities that go with that. There have been very considerable improvements since privatisation, but there is a wake-up call to the water companies.

[Lord Kirkhope of Harrogate (Con)]

My Lords, speaking as a former director of a water supply company, I ask whether my noble friend agrees that the level of investment by our privatised water companies has never been paralleled to the present position? Would he not also commend the actions of water companies that are now involved in active water transfer plans, such as those between the Kielder reservoir and Yorkshire?

[Lord Gardiner of Kimble]

My Lords, my noble friend has highlighted an issue that I think we need to hear more of, particularly as we look at climate change and increasing population. We need to secure more water transfers between water companies, which will build resilience and reduce the cost of meeting future demand. So I am very pleased with what is going on already, but the water companies need to work more and we need to increase our infrastructure.