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Pennon flags environmental investments in South West Water
StockMarketWire.com
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Water utility Pennon said UK regulator Ofwat had published a draft green development outline that would involve investment in the South West Water asset.
The company said it Green Recovery Initiative, developed with customers and stakeholders, proposed a set of schemes benefiting the region.
Ofwat had now published draft green economic recovery decisions, outlining £81 million of additional environmental investment for South West Water's Green Recovery Initiative.
The investment would occur over the period to 2025, with no impact to customer bills in K7, Pennon said.
'Ofwat's draft decisions will allow us to take extra action on the most pressing environmental issues,' it added.
'Our proposals include a range of initiatives which include taking action to eliminate harm from storm overflows and trialling improvements to river quality to match standards of bathing waters.'
'Alongside this, many of our initiatives also support the achievement of our ambitious net zero carbon commitment including extensive peatland restoration in the South West, the development of our low-carbon water treatment works, and helping customers to create smarter, healthier homes.'
Story provided by StockMarketWire.com
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