Over the next five years, customers can look forward to lower bills, further investment and more of a say in how South West Water is run under our innovative new business plan for 2020-25. Our five-year ‘New Deal’ sees the average water and sewerage bill falling by 11% in real terms, with the average bill in 2025 being lower than it was in 2010.
A key feature of our New Deal is WaterShare+
WaterShare+ allows customers to share in our success as well as giving them a greater say in our business; it has two main parts:
1. Sharing our success
If we outperform our business plan there are financial benefits which we share with customers. If we underperform, our customers are protected.
Thanks to our performance between 2015 and 2020 we were able to share approximately £20 million with customers under WaterShare+, meaning that each eligible customer received £20 from us.
If we continue to outperform our current business plan to 2025, we will continue to share benefits with our customers under WaterShare+.
2. A greater say
An independent WaterShare+ Advisory Panel has been established to protect the interests of our customers.
The Panel provides an independent review of our business plan commitments and Board Pledges. The Panel meetings will be held quarterly, where possible in public across our area of operation – customers will have the chance to attend and to interact with the Panel.
From 2021, we will introduce a Customer Annual General Meeting.
Information on the 2020 WaterShare+ £20
Thanks to our performance between 2015 and 2020, we were recently able to share approximately £20 million with customers under WaterShare+, meaning that each eligible customer received £20 from us.
The deadline for eligible customers to let us know how they’d like to receive their £20 was 9 October 2020.
When will I receive my £20?
Customer choices will be processed at the end of October 2020.
Customers who did not contact us to make a choice, and those who asked to receive a credit on their water bill, will have their £20 applied to their water account. The £20 will be itemised and show as a credit on the first bill received after processing in October 2020.
Customers paying by Direct Debit who chose a refund will receive £20 direct to their bank account by the end of October 2020.
Customers who registered for shares in Pennon Group Plc will receive further information by email from Link Market Services. We are not able to provide advice on the share element, but Link can be contacted direct on 0371 277 1021
More information on Pennon Group Plc shares can be found in the prospectus.
Business customers should click here for more information.