United Utilities has been authorised to make political donations and incur political expenditure at its Annual General Meeting held on 19 July 2024.
The AGM passed an ordinary resolution authorising political donations and political expenditure in accordance with Part 14 of the Companies Act 2006. The resolution authorises the company and each company which is or becomes a subsidiary of the company at any time during the period for which this resolution has effect:
- to make political donations to political parties and/or independent election candidates;
- to make political donations to political organisations other than political parties; and
- to incur political expenditure;
In each case the resolution has effect from the date of the passing of the resolution and ending on the conclusion of the next AGM or, if earlier, at the close of business on 1 October 2025.
The resolution stipulates that the aggregate amount of political donations and political expenditure made or incurred by the company and its subsidiaries must not exceed £50,000.
United Utilities latest Trading Update – also published on 19 July – says the company continues to deliver strong operating performance, resulting in no material changes to 2024/25 financial guidance.
It also says the company is “highly confident” it will be awarded four-star status in the Environment Agency's annual Environmental Performance Assessment (EPA) for 2023. United Utilities’ expectation was confirmed this morning with the publication of the Agency’s EPA report. confirmation expected shortly. Based on performance in the first half of the year, United Utilities says it is also on track to achieve four-star status in the 2024 EPA.
Commenting on AMP8 capital delivery, the Update says that in addition to the two strategic optimisation partnerships announced in May, the company has entered into agreements with seven leading engineering and infrastructure businesses, as well as eighteen detailed design and build organisations.
“This positions us well, with strong partnerships underpinning the deliverability of our AMP8 investment programme”, United Utilities says.
Financial performance in line with expectations with no material change to financial guidance since the results announcement in May. The Update says United Utilities remains on track to deliver a net customer ODI reward for 2024/25 at least inline with 2023/24 – its highest customer ODI reward to date.
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