Welsh Water reports record level of investment

DŴR Cymru Welsh Water is expected to reveal record levels of investment in its water and wastewater services when its latest half-year results are published today.

The company is understood to have invested £196m in 400 schemes between April and September, out of a total planned investment for the year to March of £400m – more than £1m a day.

The investment is part of a £1.7bn five-year programme of improvements across the company’s network up to 2020.

However, it is understood the results will also show that the company suffered an underlying loss of £15.1m over the six month period, compared to a £1.1m profit at the same stage last year.

The losses are understood to be due to higher depreciation charges and financing costs.

Welsh Water has been owned by Glas Cymru since 2001, and is unique among water companies in Wales and England in having a no-shareholder model.

Glas Cymru chairman Alastair Lyons said: “Welsh Water has again made good progress in the last six months, delivering a strong performance to help meet the needs of customers.

“The company’s core aim of delivering the highest possible standards at an affordable cost remains unchanged as we drive even further improvements and efficiencies, without compromising quality, in the services we provide.”