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Welsh Water is marking the 20th anniversary today of its acquisition by Glas Cymru to become a not-for-profit water and sewerage business.
During the past two decades the company has reinvested £440 million into the business and community to keep bills below inflation and support vulnerable customers.
Chief executive Peter Perry said the pioneering ownership model has proved its worth by delivering financing efficiency and building consumer trust.
“We are focused on the long-term and have ambitious plans for the years ahead,” Perry said. “With the wellbeing of future generations as paramount, the Glas model will evolve to meet new challenges and circumstances, keeping pace with societal issues and growing customer concern about climate change and their desire to invest for the long term.”
To celebrate the anniversary the company will donate £100,000 to 100 local foodbanks and, through its community fund, will invite groups to apply for a share of £10,000 to fund causes.
Alastair Lyons, chairman of Glas Cymru said: “As a board, we are proud of what we have achieved over the past 20 years thanks to our not for shareholder business model. Whilst there is much to celebrate about the past, there is also much to look forward to, and plan for in the future. Long term asset resilience, increased environmental ambition, and value for money plans for our customers alongside a more personalised service are just some of what Welsh Water is investing in for the long-term.”
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