United Utilities

United Utilities, backed by the Environment Agency and local campaigners, has unveiled plans for a 12-mile (19km) tunnel to divert sewage away from Windermere and end discharges into the lake. The project is estimated to cost £3.6bn and could add up to £3.17 a month to customer bills in 2035 if the company receives permission to raise charges. Detailed design work will take about two years; if funding is approved the build could be finished within seven years and treated effluent would be discharged into the River Leven or the Irish Sea at Ulverston. » More on theguardian.com

United Utilities pleaded guilty to five environmental permit offences after raw sewage was discharged from three pumping stations for more than 35 hours in June 2023, contaminating beaches from Blackpool to Cleveleys. The company was ordered to pay £964,225 in fines and costs after modelling showed a sewage plume reached seven designated bathing waters, tests detected E coli and three shellfish beds were closed. The Environment Agency classified the incident as category one and said it caused significant harm to local communities and businesses, including a large fall in Blackpool visitor numbers; United Utilities apologised and accepted responsibility. » More on theguardian.com

United Utilities Water Finance PLC has admitted a €75m fixed-rate bond with a 3.75% coupon and maturity in 2034 to trading on the Main Market in London. The securities will be consolidated with existing tranches of the same series, raising the outstanding amount of that series to €1bn. The bond is secured by an unconditional guarantee from United Utilities Water Limited and was issued under a €12bn EMTN programme. » More on de.investing.com

Ofwat has provisionally supported the bulk of United Utilities' request for a 2026 cost adjustment, including approved funding of around £975m. The company remains on track to deliver about £2.5bn of investment under the AMP8 reopener clause and maintains an AMP8 capital framework of around £11.5bn. United Utilities expects annual RCV growth of roughly 10% through 2030, is targeting a regulatory return of 10–11% and plans a gearing ratio of 55–65%; Ofwat requested additional evidence for some projects, with a consultation due by 24 September 2026 and a final decision in December 2026. » More on de.investing.com

United Utilities paid chief executive Louise Beardmore £2.5m, including a £435,000 annual allowance and a 16% salary rise, even as a government ban on undeserved bonuses targets poorly performing water companies. Analysis of 14 major water firms shows total reported pay for CEOs and CFOs rose to £25.3m, with firms using retention payments and non-performance awards to sidestep the ban. The revelations come amid public anger over rising bills, pollution and drought measures, and Ofwat will confirm which firms face the ban later in the autumn. » More on theguardian.com