Dŵr Cymru Welsh Water invested £153 million in capital projects in the six months to September 2012 - £40 million more than the same period last year. The investment will further improve services for the company’s 1.4 million customers.

The utility's half year report shows strong overall performance for the six months to September 2012 and continued improvement to customer service. Dŵr Cymru said it is on track to deliver over £300 million of investment in the full year and £1 billion in the three years to 2015. Profit before taxation was £25 million, down from £34 million in the same period last year – attributed primarily to the higher level of investment in the business.

Key investments by Dŵr Cymru during the period include:

·         a new service reservoir at Coed Dolwyd to provide emergency water storage for over 70,000 customers in the Llandudno and Colwyn Bay area (£9 million)

·         a major improvement programme (£7 million) at Heswall waste water treatment works, that will provide environmental improvements to the Wirral Peninsula including the building of a new underground storm water storage tank - the size of three Olympic swimming pools

·         a £4 million project at Britton Ferry to reduce the longstanding, serious threat of sewer flooding to the community

·         the building of a new water treatment works to provide 11,000 customers in and around Hay on Wye with a reliable, high quality water supply (£9 million)

Dŵr Cymru has the best credit ratings in the water sector and the best ratings of all UK utilities - its bonds are rated A by Standard and Poor’s and Fitch, and A3 by Moody’s. The firm’s regulatory gearing is continueing to reduce and is now 64% (2011: 65%) compared to 93% when Dŵr Cymru was acquired by Glas Cymru in 2001.

The average household bill in Wales rose below the rate of inflation for the second year running, again lower than any other water and sewerage company in England and Wales. By 2015 the average household bill will be 6% lower in real terms compared to 2000 – the year before the company was acquired by Glas Cymru.

Dŵr Cymru’s household customers scored their satisfaction with the service they receive at 93% in the utility’s latest research; business customer satisfaction stood at a record 88%; and the number of written complaints received fell by a quarter to under 1,900.

Commenting on the results, Glas Cymru Chairman, Bob Ayling, said:

“I am pleased to report a period of further progress in achieving our objectives; to deliver the best possible outcomes for customers by supplying drinking water of the highest quality and safeguarding the environment, at least cost. We also aspire to show that our unique business model for the water industry is better for customers in much of Wales, Herefordshire and Deeside.

“As the only regulated water company in the sector that is managed solely on behalf of its customers, we aim to be one of the very best performers when it comes to day to day customer service. And in the first six months of this financial year, we are able to point to more good progress. Dŵr Cymru now ranks with the best performers in the sector. This continuous improvement is supported by an ambitious investment programme, underpinned by the strong financial position of our unique ownership model.”