South West Water’s parent firm has announced that it plans to create 2,000 new jobs and take on 1,000 apprentices and graduates over the next five years.
Exeter-headquartered Pennon Group Plc, which has submitting a trading update for the six months ended September 30 2023, has said trading is in line with expectations as it continues to invest in water resilience to improve the region's resource position, as it lifts all temporary use bans.
Pennon said that is is on track to deliver deliver a £400m investment plan over the next 12 months and plans to invest £2.8bn in water quality and resilience.
The water firm added that it's investment in renewable energy generation is "progressing in line with expectations" towards its 2030 net zero commitment.
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The firm submitted South West Water's business plan to Ofwat, outlining capital investment of £2.8bn to secure improvements to the benefit of the environment, customers and communities between 2025 and 2030.
Susan Davy, Pennon's chief executive said: "In our South West Water 2025-30 business plan, we're set to tackle the challenges that matter most in our region head on, with progress already underway. We plan to invest £2.8bn in water quality and resilience, with a pledge to fix storm overflows at beaches and eradicate pollutions, whilst delivering on our Net Zero 2030 promise to the planet. Our robust balance sheet underpins our ambition.
"This plan will create 2,000 jobs in our communities, alongside our plan for 1,000 apprenticeships and graduates. At the same time, we will do more with less, as we drive efficiency and innovation, with a nature first principle, keeping unwelcome bill increases as low as possible."
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Ms Davy added: "We have tested our plan with thousands of customers, and they are confident this is the right deal for right now."
The chief executive also included how the firm's merger with Bristol Water earlier this year has cemented its focus on improving performance in the Bristol region to provide a sustainable platform across the water business for the next regulatory period.
Pennon's half year results will be announced on November 29 2023.
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