BUSINESS LIVE: Water group reveal investment plans; YouGov agrees fresh financing
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BUSINESS LIVE: Water group reveal investment plans; YouGov agrees fresh financing
By Live Commentary
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The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are Pennon, United Utilities, YouGov, Microsalt and Peel Hunt. Read the Monday 2 October Business Live blog below.
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Water group reveal investment plans
Water group Pennon and United Utilities have joined industry peers in revealing plans for billions of pounds in infrastructure investment, amid concerns Britons’ water bills could rise by more than £150 a year to fund the move.
Water companies have set out a five-year plan to prevent 140,000 sewage overflow spills per year.
Providers will invest £96 billion in the second part of the decade — almost double the current levels — in proposals companies say will pay for 10 new reservoirs, cut leaks and stop the equivalent of 6,800 Olympic swimming pools-worth of sewage spills.
Industry body Water UK said private firms had agreed to more than double the number of households that will receive financial support, rising by 2.0 million to 3.2 million, as the sector looks to address public anger over sewage being pumped into beaches and rivers during storms.
