Pennon Group

PNN · Main Market · Utilities · mcap £1,701m · 333.4p 7 open situations →

Pennon supplies water and wastewater services in the South West of England through South West Water, and water in Surrey and Sussex through SES Water. It earns regulated returns set by Ofwat and is investing heavily in water resources, treatment works and storm overflows.

Target	Promise	Said	Status
Today · 22 Oct 2026
2026
31 Dec 2026	Conclude Environment Agency prosecutions during 2026	10 Mar 2026	… In progress
	“we expect to conclude these during 2026” Status so far Not yet due.
2027
end FY27	All four Pennon Power sites operational, generating 40% of group consumption	26 Sep 2025	… In progress
	“when all four sites are operational by the end of FY27, Pennon Power's renewable energy portfolio will generate the equivalent of 40% of the Group's total consumption” Also stated 10 Mar 2026 How it developed 26 Sep 2025 Said “When all four sites are operational by the end of FY27, Pennon Power's renewable energy portfolio will generate the equivalent of 40% of the Group's total...” 10 Mar 2026 Said “when all four sites are operational by the end of FY27, Pennon Power's renewable energy portfolio will generate the equivalent of 40% of the Group's total...” Status so far Not yet due.
2030
31 Mar 2030	Keep water business gearing within 55-65% (60-65% target stated Jan 2025)	2 Oct 2023	… In progress
	“Pennon maintaining its long-term gearing policy of 55-65% for the regulated water businesses, consistent with an investment grade credit profile” Also stated 10 Jan 2024 · 10 Jan 2024 · 29 Jan 2025 How it developed 2 Oct 2023 Said “we are confident that our gearing will remain within our well-established range of 55-65%” 10 Jan 2024 Said “remain within our well-established water business gearing range of 55-65%” 10 Jan 2024 Said “the pro forma leverage and capital structure for the enlarged Group following the Acquisition remains consistent with Pennon's well-established water...” 29 Jan 2025 Said “Pennon maintaining its long-term gearing policy of 55-65% for the regulated water businesses, consistent with an investment grade credit profile” Status so far Not yet due.
31 Mar 2030	Retain Baa1 credit rating for water companies over K8	29 Jan 2025	… In progress
	“targeting retaining a strong investment grade credit rating of Baa1 for the water companies over the K8 period” Status so far Not yet due.
2030	Enforcement package: £20m spill investment, £2m sewer misuse fund, £2m Nature Recovery Fund	10 Jul 2025	… In progress
	“£20m accelerating investment from K9 to reduce the number of spills at environmentally sensitive locations or within a focused community” Status so far Not yet due.