Thames Water shareholders have agreed to provide a further £750 million of equity funding in AMP7, in addition to the £500 million of new equity funds Thames Water drew down on 30 March 2023 following the commitment made by shareholders in June 2022.

Pennon Group, owners of South West Water and Bristol Water, has welcomed the announcement by Ofwat outlining a potential c.£130 million of additional, accelerated investment for South West Water.

SES Water has reported an increase in revenue of 4% (£1.4m) to £33.7m (2021: £32.3m) and a reduction in operating profit of 49% to £4.0m (2021: £7.8m) in its latest results for the six months ended 30 September 2022.

Ofwat is warning that water and wastewater companies are falling behind on their investment plans, with some companies using less than half of their allowances to improve their water network, leaving promised service improvements behind schedule or undelivered.

Thames Water has published its annual results for the year to March 2022 – commenting on its performance, Sarah Bentley, Chief Executive Officer says “we know our performance isn’t yet where it needs to be, and we are only at the beginning of our turnaround journey. However, there are early signs we’re on the right path.”

Welsh Water, the only not-for-profit utility company in England and Wales, has revealed proposals for a new, £300 million state of the art water treatment works which will ensure customers in the town and surrounding areas continue to receive a first class water supply for decades to come.

Anglian Water has today unveiled a huge £680 million investment programme for the year ahead. The largest investment ever planned for a single year will be spent across the entire East of England, which is the driest and one of the fastest-growing parts of the country.

London’s Victorian water network is set to receive a major overhaul to increase water resilience thanks to a £300 million contribution in match funding from Thames Water’s owners.

Water UK, the body which represents the UK water and wastewater companies, has flagged up a number of concerns and suggested alternative approaches to Ofwat’s initial views on the framework for PR24 and future price reviews.

Ofwat, in collaboration with Defra, the Environment Agency, the Drinking Water Inspectorate, and CCW, has given the water sector the go ahead to invest £2.7 billion to deliver a broad range of proposals to offer a more resilient, greener and healthier future.