Centrica boss forgoes his bonus

The head of Centrica, which owns British Gas, has decided not to take his bonus this year. Sam Laidlaw admitted they the industry needed to rebuild consumers' trust in the energy sector, which is at an "all time low".

Three energy firms yet to decide on bosses' bonuses

Energy bosses were forced to defend recent hikes in energy prices to a committee of MPs last week.

Three energy firms have said they have not yet made a decision about bonuses for their respective chief executives.

A spokesperson for npower said bonuses would be "reviewed in the new year", SSE said it would "take all factors into consideration including the general external environment" and Scottish Power said it "evaluates individual performance against the agreed criteria at the end of the financial year."

Centrica boss Sam Laidlaw announced he has decided not to take his bonus this year.

Are energy firms about to follow the example of banks?

by - Former Business Editor

Are energy companies about to follow where banks went before?

This lunchtime, the boss of the biggest of the big 6, Centrica, told me that he had decided not to take a bonus this year.

The head of Centrica, Sam Laidlaw, has decided not to take his bonus this year. Credit: PA Wire

It's important to remember the firm's board won't have made that decision yet anyway, but he is removing himself from even being considered for one.

High pay for bankers certainly met with massive public anger during the worst of the financial crisis.

But it will be interesting to see if Laidlaw's decision makes much difference to anxiety over bills, and whether the bosses of other energy companies follow.

Read: Centrica chief forgoes bonus amid energy bill rise row

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Centrica chief forgoes bonus amid energy bill rise row

The head of Centrica, which owns British Gas, has decided not to take his bonus this year as anger over soaring household energy bills continue.

The head of Centrica has decided not to take his bonus this year. Credit: PA

Read: How UK energy prices compare to other EU countries

Consumers' trust in the energy sector is at an "all time low" and there was an urgent need to rebuild it, chief executive Sam Laidlaw said at the CBI annual conference in London.

He announced his decision not to take bonus and added that there was a need for leadership in the current environment which had to be balanced with being able to attract employees.

"Just to continue in this world where households are under pressure, and assume it is business as normal, is not the way thoughtful remuneration committees think about it," Mr Laidlaw said.

He also repeated the industry's pledge to cut bills if the Government switches environment and social costs to other forms of taxation.