Group History

  • 2025

    Pennon announces the acceptance of Ofwat’s Final Determinations, a launch of c.£490m fully underwritten rights issue to support record investment, and a revised dividend policy of CPIH through to 2030 (29 January 2025) 

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  • 2024

    Pennon receives clearance from the CMA on the merger of SES Water with South West Water (14 June 2024)

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    Pennon announces acquisition of Sutton and East Surrey Water (SES Water) and certain other ancillary businesses, for £89 million with a total enterprise value of £380 million (10 January 2024)

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    Pennon announces the successful completion of the equity capital raise of new Ordinary Shares of approximately £180 million in connection with the acquisition of SES Water (10 January 2024)

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  • 2023

    Pennon announces acquisition of renewable energy generation projects, significantly accelerating the Group’s Net Zero 2030 commitment to self-generate 50% of electricity (11 July 2023)

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    Pennon receives regulatory approval for c.£130 million Accelerated Infrastructure Investment for South West Water to 2030 (3 April 2023)

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    Bristol Water licence merger successfully completed (1 February 2023)

  • 2022

    Announcement of investing in renewable energy generation, accelerating the Group's pathway to c.50% self-generation by 2030, and Pennon’s wider environmental Net Zero 2030 commitment (30 September 2022)

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    Pennon announces WaterFit plan for 2022-25 - outlining how we will play our part, working in partnership to protect and enhance the region’s coastal and river water quality.

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    Second issuance of our pioneering WaterShare+ scheme launched -, including Bristol Water customers. (12 April 2022)

    Pennon Spotlight Presentation: Investing for Sustainable Growth (12 April 2022)

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    View webcast

    Pennon receives clearance from the CMA on the merger of Bristol Water with South West Water (7 March 2022)

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  • 2021

    Pennon announces collaboration with the University of Exeter, a 25-year partnership designed to solve some of the most pressing global environmental challenges of our time. (December 2021)

    Pennon publishes Climate Change Adaptation Report (December 2021)

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    Pennon launches Net Zero 2030 plan

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    Pennon announces acquisition of Bristol Water Group (3 June 2021)

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    Payment of c.1.5 billion Special Dividend, representing £3.55 per Existing Ordinary Share, accompanied by a share consolidation on a 2 for 3 basis (3 June 2021)

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  • 2020

    Unique customer scheme, WaterShare+ launched - sharing £20 million outperformance with customers (18 September 2020)

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    Pennon completes sale of Viridor (July 2020)

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    Pennon announces proposed sale of Viridor for £4.2bn to KKR (March 2020)

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    South West Water accepts Final Determination from Ofwat for 2020-25 (February 2020)

    View the announcement

    View the investor summary

  • 2019

    Pennon receives ‘Green Economy Mark’ accreditation from London Stock Exchange – for companies who generate 50-100% of total revenues from products/services contributing to a global green economy (October 2019)

    Viridor announces joint venture with Grundon Waste Management Limited to build a new ERF in West Sussex (September 2019)

    View the Trading Statement

    Draft determination for South West Water’s K7 business plan (April 2019)

    Committed £65million investment in new plastics recycling facility at Avonmouth (April 2019)

    South West Water’s business plan for 2020-25 awarded fast-track status by Ofwat (Jan 2019)

    View the announcement

    View presentation

  • 2018

    Increased stake in Runcorn I ERF joint venture from 37.5% to 75% (December 2018)

    Pennon becomes first water services and waste management utility to secure Fair Tax Mark (December 2018)

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    South West Water submits ‘New Deal’ business plan for 2020-25 (September 2018)

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    View the investor summary

  • 2017

    Opening of the non-household retail market (April 2017)

    View the half year statement

  • 2016

    Announced Joint Venture between Pennon Water Services and South Staffordshire Group Plc (November 2016)

    Committed to 12th ERF at Avonmouth, near Bristol (November 2016)

    Chris Loughlin appointed as Group Chief Executive Officer (January 2016)

    Bournemouth Water successfully transferred to South West Water (April 2016)

  • 2015

    Peterborough ERF completed and operational (December 2015)

    The acquisition and subsequent merger of South West Water and Bournemouth Water was unconditionally cleared by the Competition and Markets authority (CMA) on 5 November 2015.
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    Sir John Parker appointed as Chairman (April 2015)

    Acquisition of Bournemouth Water from Sembcorp Holdings Limited
    Cash resources used for the Bournemouth Water acquisition replenished through an equity placing of £100.3m in April 2015.
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    Beddington ERF - Notice to Proceed with construction issued in June 2015

    A further three ERFs delivered before the end of the 2014/15 financial year: Cardiff, Runcorn I and Runcorn II.

  • 2014

    Final Determination for South West Water - December 2014
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    Oxford ERF - Takeover completed in November and plant operational

    Exeter ERF - Takeover completed in July and plant fully operational

    Draft Determination for South West Water - April 2014
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    Download the investor summary

    South West Water designated an 'enhanced' company by Ofwat
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  • 2013

    Residual Waste Treatment Contract Signed
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    Business Plan Submission to Ofwat
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    Peterborough 30-year Residual Waste Treatment Contract signed
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    Response to Further OFWAT Section 13 Notice to Modify Water Company Licences
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  • 2012

    Response To Ofwat Section 13 Notice To Modify Water Company Licences
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    25 Year South London Residual Waste Treatment Contract signed 5 November 2012
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    Glasgow City Council Residual Waste Treatment Services Contract signed
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  • 2011

    Oxfordshire Residual Waste Treatment PPP Contract signed
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  • 2010

    Completion of £400m clean water mains rehabilitation programme which saw 5,000km of water mains relined or replaced over 10 years

    Acquisition of Pearsons Group Holdings Limited for £16m
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    Acquisition of Reconomy recycling companies for a cash consideration of £23.8m
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    South West Water accepts Final Determination
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  • 2009

    Ofwat Final Determination of price limits for K5 period (2010 - 2015) received by South West Water. Next Determination due in 2014.
    View the announcement

    Intercontinental Recycling acquired for a cash consideration of £8.1m
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    London Recycling Limited acquired for a cash consideration of £11m
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    Greater Manchester PFI Contract Completion
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  • 2008

    South London Waste Partnership won
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    Shore Recyling Ltd acquired for a cash consideration of £23m
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  • 2007

    Launch of pioneering customer support scheme 'Water Care' by South West Water
    Read more about Water Care on South West Water website

    Grosvenor Waste Management Ltd acquired for a cash consideration of £79.5m (plus debt of £1.5m)
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    Skipaway Holdings Limited acquired for £14.7m
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    Viridor/Laing consortium announced as preferred bidder for Greater Manchester Waste Disposal Authority PFI
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  • 2006

    Wyvern Waste acquired for £25.4m and 25 year PPP agreement entered into with Somerset County Council
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    £148.5m return of capital to shareholders by way of a B Share Scheme and share buy-back (announced with 2005 Interim Results)
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    All 144 bathing waters in the South West region achieved 100% compliance with the EU Mandatory Standard

    Over half of South West Water's domestic customers on meters for the first time

  • 2005

    Lakeside Energy from Waste Limited 50:50 joint venture established with Grundon Waste Management
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    Brett Waste Management acquired.
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    All of the major projects in South West Water's 15 year "Clean Sweep" bathing water compliance programme completed

  • 2004

    Thames Waste Management acquired for £30.8m
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    Ofwat Final Determination of price limits for K4 period (2005 - 2010) received by South West Water. Next Determination due in 2009.

    Bid Approach from Terra Firma rebuffed
    View the announcement

    West Sussex integrated waste contract commenced.

  • 2003

    Churngold Holdings Limited acquired for £19.8m
    View the announcement

  • 2002

    Parkwood Holdings Limited acquired for £20.6m
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    Torbay £97m 'Clean Sweep' scheme completed

    Sale of Viridor Instrumentation for £103.6m and special interim dividend paid to shareholders from the net sale proceeds
    View the announcement

  • 2000

    Sale of Viridor Contracting for £10.9m
    View the announcement

  • 1998

    Group changes its name to Pennon Group Plc to better reflect the success of the Group's strategy of building two different areas of operational focus, SWW and Viridor

    Plymouth £63m 'Clean Sweep' scheme completed

  • 1997

    Landfill activities of Terry Adams acquired, initially for £76.6m. (Contingent considerations amounting to £7.9m followed).
    Download the announcement

  • 1996

    Bid approaches from Wessex and Severn Trent disallowed by the Board of Trade

  • 1995

    Blue Circle Waste Management acquired for £70.7m
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  • 1993

    Purchase of the first of our waste companies, Haul Waste Limited for £28.7m, later renamed Viridor Waste Management Limited. Many other waste companies, small and large, have been purchased since 1993. The most significant transactions are given above.
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  • 1991

    Interim Determination of K (IDoK) to fund South West Water's accelerated bathing water compliance programme

  • 1989

    Privatisation of the water industry in England and Wales. South West Water Plc one of ten water and sewerage companies launched on the London Stock Exchange.

    Roadford Reservoir completed providing 34,500 megalitres of water storage