Southern Water costs soar

Operating costs at Southern Water for the year to 31 March 2024 rose £109m to £598m, driven largely by a £21m increase in power prices; £28m in tankering and other charges relating to record rainfall in the region; and a £36m hike from inflation. Net financial costs were down £55m to £223m

Revenue was up £67m to £859m, driven by price increases, The company reported an operating loss of £72.8m – up £54.4m year-on-year and it posted a loss before tax in the current reporting period of £207.6m reflecting a fall in fair value gains on derivatives to £88m following a £659m gain in the previous year.