Pennon highlights environmental and social advances

Pennon Group has declared itself as operating a socially responsible business, supporting all customers with sub-inflation bill increases for 2023/24 and highlighted environmental performance improvements.

In a trading statement for the year to 31 March 2023 the group confirmed its completion of its acquisition of Bristol Water last month. And it said it was reinvesting outperformance in South West Water to “increase water resilience and enhance the environment.”The group said it was “on track to deliver results in line with management expectations.” ·

It reported:

• acceleration in group environmental capital expenditure at some 40%;

• a 30% reduction in pollution incidents in the statement year; and

• near 100% monitoring of storm overflows a yer ahead of its plan with releases from storm overflows down 30% in 2022.

Pennon declared improvements in its wastewater pollutions performance of more than 50% in two years, including a reduction in serious pollutions in 2022 from eight to two.

It said it is on track to continue an annual group rate of return on regulated equity in the coming year “driven by our strategically positioned financing portfolio.”