South West Water holds the water industry’s first customer AGM

10th November 2021

South West Water has held the water industry’s first ever Customer AGM, as part of its innovative and pioneering WaterShare+ scheme. The scheme was built with a commitment to holding a Customer AGM, with this year’s event taking place at Pynes Water Treatment Works in Exeter on Wednesday 10 November.

The event was an opportunity for customers to hear from members of the leadership team at South West Water on the latest projects and business plans as well as putting questions directly to the CEO of the organisation. Questions ranged from local issues, to the steps the organisation was taking to improve water quality. Also, with COP26 coming to a close this week the company was also able to provide an update on its ambitious plans to reach net zero by the end of the decade.

Following the company’s largest ever consultation on its New Deal business plan for 2020-25, WaterShare+ allows its customers to share in South West Water’s success, as well as having a greater say in the business.

Thanks to the company’s performance between 2015 and 2020, last year it was able to share approximately £20 million with eligible customers as either a £20 credit on their account, or as shares in its parent company, Pennon. As a result of this unique scheme, more than 1 in 16 households are now shareholders as well as customers.

As well as sharing success, WaterShare+ gives customers a greater say in what South West Water does and how it’s run. Meetings of the independent WaterShare+ Advisory Panel are held in public every three months, independently chaired by Lord Matthew Taylor of Goss Moor, who hosted Wednesday’s Customer AGM.

Lord Taylor, Chair of WaterShare+ Advisory Panel said: “The purpose of the WaterShare+ Advisory Panel is to champion the interests and needs of customers by providing an independent view on the delivery of the company’s business plan, including its Performance commitments and Board pledges. “By holding in-depth sessions with the executive directors, we have been able to drill into the operational issues that matter to customers, from water supply to pollutions. We have also invited customers to participate in public sessions directly to challenge directors, in addition to the panel investigating. We invited expert advice from water industry regulators to make sure we understand the facts from every perspective. This is an industry first, and the annual report to customers sets it all on the record”

Pennon and South West Water Chief Executive Officer, Susan Davy, said: “I believe there’s no better way to respond to, or understand the issues which matter most to the communities we serve than building a deeper relationship with customers, giving them a real say through regular and meaningful engagement ensuring they are at the heart of our decision making. Sharing our success with customers is at the heart of WaterShare+ and put simply, if we deliver, customers and communities also benefit.”

South West Water’s new purpose, bringing water to life – supporting the lives of people and the places they love for generations to come, shows the importance the organisation places on operating in the public interest for the benefit of customers’, for now and into the future. The organisation’s Neighbourhood Fund is also supporting communities with well needed help and support to build back better post the pandemic as well as encouraging employees to give an hour to support communities and causes close to their heart. £100,000-a-year of funding is available for neighbourhood community groups which inspire physical activities, education, health and wellbeing and deliver positive environmental outcomes and good causes can apply here.

For more information on South West Water’s WaterShare+ scheme, visit www.southwestwater.co.uk/about-us/watershareplus/