Exeter based Pennon Group’s results show continued support for region’s communities, customers and environment
31st May 2022
Pennon Group, owner of South West Water, has today announced its Full Year Results with good momentum delivering on its strategy, providing ongoing support to customers and continued investment in protecting and enhancing the South West’s environment.
The Group, which expanded its reach across the Greater South West, with its acquisition of Bristol Water in June last year, has around 3,000 dedicated colleagues serving a population of around 3.5 million and is one of the largest employers in the region.
The Group is reporting robust, resilient, financial and operational performance.
At a time when the cost-of-living crisis is putting pressure on households, the company is committed to keeping bills as low as possible.
Circa 100,000 customers are now benefiting from one or more of South West Water’s affordability initiatives, which include discounts to bills or a level of bill certainty to suit customers’ circumstances.
Pennon has also announced plans to share an additional c£20m of outperformance with every household in the South West, as part of its unique WaterShare+ scheme, putting customers in control, either by taking a further £20 off their bill or investing in Pennon Group, building on the 1 in 16 households who have already done so. Bristol Water customers will also be eligible to participate for the first time.
The company recently outlined the next stage in its Environment Strategy, WaterFit – accelerating and expanding plans to protect and enhance the South West’s water for future generations.
WaterFit will dramatically reduce the use of storm overflows, maintain the South West’s excellent bathing water quality standards all year round, reduce and then remove the company’s impact on river water quality by 2030.
Susan Davy, CEO of Pennon and South West Water, said: “We’re building momentum, executing our strategy and driving sustainable growth. At Pennon, we believe every customer should benefit from what we do. That’s why in February, we announced average bills in the South West would fall, lower now than 10 years ago, supporting the cost-of-living crisis.
"At the same time, we are doing more for customers than ever before as well as delivering the step change we all want for our rivers and seas, for the Great South West, and for generations to come. With our largest ever environmental programme in 15 years, we are accelerating plans to make a step change in river and sea health, building on our track record of 100% coastal bathing water quality, with WaterFit, delivering a tangible difference to communities and customers in the region over the next 3 years, and with no impact on bills.”
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