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Severn Trent has set out its intention to remain an industry leader across performance commitments in the next asset management period (AMP8) as the cornerstone to its ambitious plan.
1 year ago
This weekend after party conferences from Labour and the Conservatives, pledges and promises have been scrutinised in the news including the potential cost to re-nationalise the energy grid; elsewhere, proposals by water companies to raise bills to invest record sums face backlash while smart metering gets a boost.
Anglian Water has proposed to spend more than £9 billion over the next asset management period – an increase of more than two thirds when compared to £5.3 billion of total expenditure allowed by Ofwat in its final determinations for PR19. Under its PR24 business plan for 2025 to 2030, the company said its expenditure on the environment would more than double to around £4 billion.
Despite low customer support in decarbonising water assets, the sector has proposed spending £1.3 billion in the next asset management period (AMP8) to reduce greenhouse gas emissions as it works towards operational net zero in 2030 and true net zero by 2050. Utility Week unpicks each company's PR24 business plan to see where the proposed investment will be spent.
Yorkshire Water has begun £10 million upgrades to a wastewater treatment site in Dronfield to remove phosphorus from treated effluent and improve water quality in the river Drone. The project is part of a wider investment of £500 million to reduce excess nutrients entering waterways across Yorkshire's region.
Welsh Water has strong customer support for its ambitious business plan, despite almost half of customers admitting the proposed bills will be difficult to pay. The company has set out plans to improve services and performance for the years to 2030 and will ask customers to pay an extra 26%.
In the weekend papers, Labour previews its pitch to voters on energy and water at its annual party conference in Liverpool this week, including plans to strip bonuses from the boss of water companies polluting Britain’s waterways and offer lower bills to people willing to host infrastructure in their area. Meanwhile, prime minister Rishi Sunak faces criticism over proposals to restrict the installation of solar panels on farmland.
Southern Water has asked the regulator to recognise the position the company is in and where it wants to get to with its ambitious business plan for 2025-30 that will see its raise bills up to 66%.
Northumbrian Water plans to double total investment to just over £6 billion between 2025 and 2030, including £1.7 billion to improve the environment. However, the company warned that in order for its plan to be financeable Ofwat would have to adopt a new approach to the cost of equity.