Dŵr Cymru Welsh Water is investing record levels in its water and wastewater services, according to the company’s half-year results published this morning.
The half-year results show Welsh Water is now investing more than £1 million a day - more than ever before - in its services. Capital investment has accelerated with overall investment of £196 million between April and September 2017 (September 2016: £161 million).
With more than 400 different schemes currently being carried out to help improve water and wastewater services for customers, £196 million a total of £400 million is planned to be invested in the year to March 2018.
Regulatory gearing – total group net debt as a percentage of regulatory capital value – has fallen to 55% (down from 57% in March 2016 and 93% in 2001).
The UK’s only not for profit water and wastewater utility continues to have the strongest credit ratings of any water company in the sector.
The company was recently named as the ‘Most Recommended’ water company in the 2017 Moneywise Home Finances Awards.
Glas Cymru Chairman Alastair Lyons said:
“Welsh Water has again made good progress in the last six months, delivering a strong performance to help meet the needs of customers both now and in the future. The company’s core aim of delivering the highest possible standards at an affordable cost remains unchanged as we continue to drive even further improvements and efficiencies, without compromising quality, in the services we provide.”
In terms of operational performance, the company achieved 99.98% overall compliance with quality standards in tests at water treatment works, in the network and customers’ taps in the nine months to September 2017 (September 2016: 99.99%).
Leakage levels have continued to improve and are now at their lowest ever level at 170 megalitres per day (2016: 172 megalitres per day).
The number of properties suffering from internal flooding has fallen to 113 compared to the same time last year (2016:118).
Welsh Water is now helping to fund a range of social tariffs which lower bills for over 90,000 customers who genuinely struggle to pay their water bills. Working with over 100 different organisations to promote the scheme, the company is spending nearly £6 million to help fund this sector-leading level of support and is on track to achieve its aim of helping more than 100,000 customers by 2020.
The firm has also been preparing for the future and recently completed its most successful customer consultation ever. Over 20,000 customers took part in ‘Have Your Say’ over the summer as the company asked its customers about their priorities for tackling long-term challenges to 2050.
The company is currently assessing the customer feedback and will use it to inform its long-term plans as well as its priorities for the next investment cycle from 2020 to 2025.
Welsh Water Chief Executive Chris Jones commented:
“It is important that we look to the future and plan ahead to ensure that can continue to deliver a truly resilient and sustainable service in an ever-changing world. This is why we have developed our long-term vision, Welsh Water 2050. Building on the success of consulting over 20,000 customers over the summer, our recently established Youth Board and online community panel will play a key part in helping provide additional customer insight, so we can continue to improve our services further.”
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