South-west water company asks investors for £550m for improvements

Pennon Group, which supplies water to about 3.5 million customers in south-west England, will raise £550m by selling extra shares to investors, with banks guaranteeing it as a safety net. The money helps fund £1bn of improvements for customers and communities. Boss Keith Haslett said customers' bills will not rise further to pay for it, announced 7 October 2026.