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United Utilities has said it expects to be rewarded at least £11 million by Ofwat as part of its service incentive mechanism.
The company said it has provided the “widest range of support” for customers over the current AMP period, having doubled the number receiving help with affordability.
Ofwat has undertaken two surveys in the first half of the year. In the first survey United Utilities scored 4.49 points, compared with 4.36 points in the first survey of 2017/18. In the second survey the firm scored 4.50 points, compared with 4.44 points in the second survey of 2017/18.
“We are trending above the industry average of 4.35 points, with customers rating us highly for billing and wastewater services,” it said.
In its half-year results to 30 September, United Utilities reported an underlying operating profit of £367.8 million, up from £344 million in the same period last year.
Looking forward, the company said it had an “ambitious” PR19 business plan delivering £1 billion efficiencies and further reducing bills whilst improving service.
It expects customers to receive a 10.5 per cent real bill reduction and said it will offer targeted support to help more than 300,000 households out of water poverty.
United Utilities chief executive Steve Mogford said: “In the most recent UK Customer Satisfaction Index we were the most improved utility company and the highest-ranked water and wastewater company.
“Our approach to innovation and the use of advanced technology from around the world alongside our capital investment is delivering better service, greater resilience and improved efficiency. Fundamental to this is our pioneering Systems Thinking approach which continues to unlock innovation opportunities and is making a significant and positive difference to our sustainable, long-term performance.
“The significant progress we have made positions us well for the remainder of the current regulatory period and beyond. We have responded well to the challenges brought about by the impact of more variable weather and have created a platform for continuing strong operational performance. We will continue to provide a great service to our customers and create long-term value for all of our stakeholders.”
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