Over the next five years, customers can look forward to lower bills, further investment and more of a say in how South West Water is run under our innovative new business plan for 2020-25. Our five-year ‘New Deal’ sees the average water and sewerage bill falling by 11% in real terms, with the average bill in 2025 being lower than it was in 2010.
A key feature of our New Deal is WaterShare+
Following our largest ever consultation, WaterShare+ has been shaped by customers, for customers. This pioneering scheme allows customers to share in our success as well as giving them a greater say in our business. WaterShare+ has two main parts:
1. Sharing our success
If we outperform our business plan there are financial benefits which we share with customers. If we underperform, our customers are protected.
Thanks to our performance between 2015 and 2020 we were able to share approximately £20 million with customers under WaterShare+. Eligible customers could choose whether to receive their £20 as a credit on their account, or as shares in our parent company. As a result of our unique scheme, more than 1 in 16 households are now shareholders as well as customers.
If we continue to outperform our current business plan to 2025, we will continue to share benefits with our customers under WaterShare+.
2. A greater say
An independent WaterShare+ Advisory Panel has been established to protect the interests of our customers.
The Panel provides an independent review of our business plan commitments and Board Pledges. The Panel meetings will be held quarterly, where possible in public across our area of operation – customers will have the chance to attend and to interact with the Panel.
From 2021, we will introduce a Customer Annual General Meeting.
Put simply; if we deliver, our customers directly benefit.
From these pages and the links below, you can find out more about WaterShare+, meet your Panel and get more information about the Panel’s meetings in public.
Information on the 2020 WaterShare+ £20 and Pennon Shares
Thanks to our performance between 2015 and 2020, in 2020 we were able to share approximately £20 million with customers under WaterShare+, meaning that every eligible customer received £20 from us.
Under our pioneering scheme, customers were given the choice of sharing in the company’s success either by receiving a credit on their account, or by applying to receive shares in Pennon Group Plc – the UK based company that owns South West Water.
As a result of this engagement, more than 1 in 16 households are now shareholders as well as customers – heralding a new era in customer ownership.
Customers choosing to receive a £20 credit will have seen it detailed on their bill.
Those who registered for shares in Pennon Group plc received further information from Link Market Services, including how to register for their online portal at www.signalshares.com. We are not able to provide advice on shares or any shareholding, but shareholders can contact Link directly on 0371 664 9272 (calls are charged at the standard geographic rate and will vary by provider). Link can also be contacted by email on email@example.com.
Business customers should click here for more information.