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Pennon Group PLC

Pennon Group Final Determination for South West Water

Pennon Group PLC (LON: PNN) note that Ofwat has this morning published its Final Determination in respect of the K7 period (2020 – 2025).

The key elements for South West Water’s Final Determination include:

· a post tax real cost of capital for the industry of 2.92% on a CPIH basis (1.92% on an RPI basis)

· a totex allowance of £2bn (wholesale and residential retail) – consistent with South West Water’s Draft Determination in April 2019

· outcome delivery incentives reflecting the priorities of our customers – aligned with South West Water’s Draft Determination in April 2019.

Ofwat’s proposed Final Determination package is now being reviewed, and South West Water has until 15 February 2020 to respond.

Further information on Pennon Group and South West Water can be found on the Group’s website.

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