11 July 2024
Pennon Group plc
PR24 - Draft Determinations for South West Water and Sutton and East Surrey Water
Ofwat has this morning published its Draft Determinations in respect of the K8 period (2025-2030).
We welcome Ofwat's recognition of the quality of both business plans in the group, underpinned by significant customer and stakeholder support.
South West Water's business plan for Bournemouth, Bristol, Cornwall, Devon, and the Isles of Scilly has been categorised as outstanding and is recognised as a 'leading plan'.
Having acquired Sutton and East Surrey Water in January 2024, Ofwat has assessed this plan as standard, confirming this plan is 'generally good'.
We will now review both draft packages proposed by Ofwat. We look forward to a constructive dialogue ahead of responding with our representations by the due date of 28 August 2024, and over the period until the Final Determinations, currently expected on 19 December 2024.
For further information, please contact:
Pennon Group plc +44 (0)139 244 6688
Laura Flowerdew Chief Financial Officer
Catherine Nash Interim Head of Investor Relations
Media +44 (0)207 251 3801
FGS Global
James Murgatroyd
Harry Worthington