UK Regulator Approves GBP2.7 Billion Green Investment from Water Sector
July 15 2021 - 4:49AM
Dow Jones News
By Joe Hoppe
The U.K. water regulator said Thursday that it has given the
green light for the water sector to invest a total of 2.7 billion
pounds ($3.74 billion) in a series of environmental improvement
proposals.
The Water Services Regulation Authority, or Ofwat, said that in
collaboration with the Department for Environment, Food and Rural
Affairs, the Environment Agency, the Drinking Water Inspectorate
and the Consumer Council for Water, it has given the go ahead on a
broad range of proposals.
Five water companies --Severn Trent PLC, South Staffs Water,
South West Water, Thames Water and United Utilities Group PLC--
will invest an additional GBP793 million on top of their existing
five-year commitments, to help the green economic recovery. A total
of GBP1.9 billion of investment in additional statutory environment
schemes by 2025 will be made by the companies, together with seven
other companies in England.
The companies will take steps to their reduce greenhouse gas
emissions and move towards net-zero emissions goals, invest in
reducing harm from storm overflows, expand smart-metering programs,
make improvements to river quality and carry out pilot trials to
replace customer-owned supply pipes.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
July 15, 2021 04:48 ET (08:48 GMT)
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