Pennon’s results may be good next week, but nationalisation ought to be on the cards given the industry’s soiled record
The last of Britain’s three FTSE-listed water companies is due to report its financial results this week, but there’s little doubt any news on the performance of Pennon will be drowned out by a wider crisis in the industry.
Pennon, which owns South West Water and Bournemouth Water, is expected to set out an increase in revenues following a boom in holidaymakers to the West Country over the last year that bolstered water volumes. But beyond the regulated returns a set of troubling, but familiar, issues have welled up for the sector.
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