Pennon to raise £550m from investors for £1bn water investment

Pennon Group will raise £550m by asking existing investors to buy new shares — a rights issue guaranteed by banks — to help pay for a £1bn programme for customers and communities. CEO Keith Haslett said bills will not rise further for the work. Pennon supplies water to about 3.5m customers in south-west England. Announced 7 Oct 2026.