Utility firm insists higher bills will ‘benefit everyone’

SES Water owner Pennon has said rising water bills will help fund its £3.2billion investment plans, as losses deepened for the utility firm.

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The Exeter-based company, which also owns South West Water, Bristol Water and Bournemouth Water, said a record year of investment, along with encouraging its customers to use less water to save money, had affected its annual profits.

It reported a statutory pre-tax loss of £72.7million for the year to the end of March, widening from the £9.1m loss reported last year.

Pennon Group bought SES Water for £380m in January last year.