Anglian Water is committed to high standards of corporate governance and transparency.  Under the terms of our Licence, we are required to have regard to the UK Corporate Governance Code (the “UK Code”).

The UK Code sets out standards of good practice in relation to Board leadership and effectiveness, remuneration, accountability and relations with shareholders.  However, the UK Code generally applies only to companies whose shares are listed on the London Stock Exchange. As Anglian Water is a wholly-owned subsidiary in a privately-owned group, the operations of which are governed by a shareholders’ agreement, the board of the Company considers that a number of the provisions of the Code are not directly applicable. The company therefore complies with the spirit and letter of the UK Code to the extent appropriate for a privately owned company.

In January 2014, Ofwat published its Board leadership, transparency and governance principles (the “Principles”). The Principles are considered by Ofwat to represent the minimum standards for board leadership, transparency and governance for companies operating in the water sector. In April 2018, Ofwat wrote to companies stating that it is considering whether the Principles should be embedded into licences. Currently, however Ofwat expects Board to take the lead in setting out how they meet of exceed the PrinciplesIn December 2013, we published the Anglian Water Services 2014 Corporate Governance Code (2014 Code) in response Ofwat’s consultation in respect of the Principles.

In September 2014, the FRC published a revised version of the UK Corporate Governance Code (UK Code). We have updated our 2014 Code to reflect certain changes in the UK Code (relating primarily to Remuneration Policy and Risk Management and Internal Control). The Anglian Water Services Corporate Governance Code (2015 Revision) came into effect on 1 April 2015 (2015 Code). You can find a copy of both the 2014 Code and the revised 2015 Code below.

The Company Secretary keeps compliance with the 2015 Code under review and any changes recommended are subject to approval by the Board.

In April 2016, the FRC published the latest version of the UK Code, which applies to listed companies with accounting periods beginning on or after 17 June 2016. Due to the limited nature of the changes, the Board has not revised the 2015 Code. However, during the current financial year, the Anglian Water proposes to review the Audit Committee’s terms of reference with a view incorporating some of the changes. It is also expected that during the current financial year the Board will review the requirements for the updated UK Code, which is expected to apply for accounting periods beginning on or after 1 January 2019. On this page you will also find:

  • The terms of reference of our Board committees;
  • Copies of the conditions of appointment of our independent non-executive directors;
  • A statement which sets and the responsibilities of our Chairman and Chief Executive Officer; and
  • Links to other documents on our web-site which are relevant to Corporate Governance.