Water company chairman says he is focused on 'improving our financial resilience and learning to live within our means'
Water company chairman says he is focused on 'improving our financial resilience and learning to live within our means'
“Notwithstanding this, in the short term, gearing is forecast to increase further to support our much-needed investment programme and following the decision by our shareholders not to provide a further £500m of equity funding in March 2024,” he said. “I continue to believe that a market-led solution that increases financial resilience is in the best interests of all stakeholders, but it is dependent on securing a final regulatory determination that is deliverable, financeable and investable, as well as affordable for our customers.”Essentially, the outcome of regulator Ofwat’s decision on Thursday about how much the company can charge its customers will be a key milestone in the company’s near-term future.
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