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Share Price Information for Pennon (PNN)

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Share Price: 594.50
Bid: 595.00
Ask: 596.00
Change: -11.00 (-1.82%)
Spread: 1.00 (0.168%)
Open: 593.00
High: 608.50
Low: 593.00
Prev. Close: 605.50
PNN Live PriceLast checked at -

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UPDATE 2-UK's Ofwat asks water companies to use storm overflows more carefully

Fri, 18th Jun 2021 14:13

(Adds Water UK comment)

June 18 (Reuters) - Britain's water regulator on Friday
threatened to act against water companies that do not have
measures in place to monitor storm overflows during periods of
heavy rainfall.

The intervention is the regulator's latest in a string of
measures targeting British water companies that have faced fines
in recent years for polluting water bodies and not preventing
water wastage and been ordered to lower shareholder payouts.

It follows concerns around the increased use of storm
overflows and its possible impact on waterways and local
communities, the Water Services Regulation Authority (Ofwat)
said in a statement.

Storm overflows act as pressure-relief valves inside sewers
during wet weather, allowing excess stormwater to be released
into rivers or the sea. They can sometimes cause wastewater to
be released into rivers.

"Ofwat is seeking specific assurance that water company
Boards are closely monitoring performance, using the right data,
and providing the appropriate check and challenge on the use of
storm overflows," the regulator said.

Ofwat, which oversees the water and sewerage industry in
England and Wales, said it could take action against companies
that do not have the right measures in place.

Christine McGourty, who heads Water UK - a membership
organisation representing major water and wastewater service
providers in Britain, said the group was working with Ofwat and
others to ensure water companies speed up investments to meet
people's expectations for river water quality.

"We are asking the Government to make some simple changes to
the Environment Bill, currently going through Parliament," she
said in a statement.

"These would reduce the impact of wet wipes, which often
block sewers and cause overflows, and help overloaded systems by
keeping rainwater out of them."

Thames Water, Pennon, United Utilities and
Severn Trent, among the UK's largest water companies,
did not immediately respond to Reuters requests for comment.
(Reporting by Sachin Ravikumar and Muvija M in Bengaluru;
additional reporting by Yadarisa Shabong; Editing by Shinjini
Ganguli and Philippa Fletcher)

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