Pennon to raise £550m in rights issue for £1bn water investment

Pennon Group announced on 7 October 2026 it will raise £550m through a fully underwritten rights issue to fund part of a £1bn investment to improve outcomes for customers and communities. CEO Keith Haslett said customers' bills would not rise further to pay for the work. Pennon supplies water to about 3.5 million customers across south-west England.