The company’s annual results, published today indicate how Wessex Water’s “continued efficiencies” enabled it to deliver savings against both its capital investment programme and operating costs, while “at the same time meeting all regulatory requirements”, according to the company.
Financial results for the year unveiled that turnover increased from £467.5 million to £492.1 million, and that profit after tax increased from £93.2 million to £107.9 million.
Wessex Water said that savings would be “shared with customers through additional customer-focussed schemes, including support for debt advice, research and development into sustainable water and sewage treatment and keeping bills affordable”.
Colin Skellett, chairman of Wessex Water, said: “We have had another year of top performance. This has allowed us to reinvest savings into key projects benefiting customers that we would not otherwise have been able to fund without increasing future bills.”
Efficiency savings made by the company and reinvested in customer initiatives totalled £50m in this five year period (2010 to 2015) and £100m over the last decade.
Skellett also said that the company had launched its new “tap” (tailored assistance programme) to support vulnerable customers and those who were in genuine financial distress.
He said: “Although our water and sewerage bills represent only 1.5% of average household expenditure, we recognise that the economic climate means some customers find it difficult to pay their bills, so we have launched ‘tap’, our tailored assistance programme, to help these customers. This programme works closely with debt agencies and special advisers to offer a range of tariffs and assistance.”