SWW commits to £2.8bn investment in region

South West Water has submitted its latest business plan to Ofwat for the period 2025-2030.

The utility company is committing to a £2.8bn investment in the region which it says will create 2,000 new jobs as part of its commitment to its customers, communities, and the environment.

Susan Davy, CEO of Pennon Group, said: “We are already tackling challenges head on today, but with more investment in our region we can go further and faster. We recognise that actions speak louder than words. We've listened to our customers, engaged with communities, and are making progress as we put our promises into practice.

"This plan will create up to 2,000 jobs in our communities, as well as opening the door to 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.

"We have tested our plan with thousands of customers, and they are confident this is the right deal for right now.”

SWW's four key priorities will continue to be:

* Water Quality and Water Resilience

* Tackling Storm Overflows and Pollution

* Delivering for Customers and Addressing Affordability

* Reaching Net Zero and Enhancing Environmental Gains

South West Water says its 'The Right Deal for Right Now' plan reflects its commitment to responsible financing, with two-thirds of investors being customers, charities, employees, and UK pension funds.

A spokesperson said: "Our plans will also help create around 2,000 jobs in our region, helping bolster the regional economy, and alleviate the cost of living crisis as well as delivering 1,000 apprenticeships and graduates. This strategy, coupled with responsible investment, dividends, and executive pay, underscores our mission to operate as a socially responsible business."

The measures will lead to bill increases starting at £3 and rising to £9 on average per month in Devon by 2030.

SWW says 74% of customers accepted that bills should increase as a result of its investment in the region.