Claims extracted
14
sentences that state something as happening or true
Uncertain
0%
0 of 14 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
64/100
Evening Standard's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
2
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
South West Water owner Pennon calls on investors to help fund overhaul
asserted
Pennon → call → overhaul
The new boss of South West Water owner Pennon has insisted vital investment plans will be funded in the “right way” as he unveiled a £550 million investor cash-call just weeks after being hit with a record £7.9 million fine for repeated sewage spills.
asserted
he → insist → spills
Keith Haslett, who was appointed chief executive of Pennon in April, said the rights issue would help support plans for around an extra £1 billion of investment as it looks to “deliver better outcomes for our customers and communities”.
asserted
it → appoint → customers
The London-listed group, which also owns Bristol Water and SES Water, will also slash its shareholder dividend as part of the “operational reset”, cutting the payout by around 30% in total, also including the impact of the equity raise.
But he said: “Investment is needed to achieve improvements – we’re funding the plans in the right way”.
asserted
we → list → way
Customer bills are already increasing as part of existing plans to pump in about £2.6 billion of investment under plans being agreed with regulator Ofwat.
asserted
bills → increase → Ofwat
But Mr Haslett said the extra £1 billion of investment announced under his strategy overhaul will not see additional bill increases.
asserted
billion → say → increases
The group confirmed this fine would be paid for by its shareholders, separate to the rights issue, and not through bill increases.
asserted
fine → confirm → increases
Mr Haslett, who took on the role in April, said: “It’s clear from my comprehensive review that Pennon has real strengths, but there are areas where we need to improve and deliver better outcomes for our customers and communities.”
asserted
we → take → customers
He added: “The operational plan, which is already under way, is practical and focuses on clearer accountability with key skills brought back in-house, and more investment where our assets need it most.”
asserted
assets → add → it
Mr Haslett insisted the plan would “deliver a better service for customers, improve our environmental performance and generate sustainable, growing value for our shareholders”.
asserted
plan → insist → shareholders
The group is also looking to sell its Pennon Power business, with around £25 million from the sale set to be used to reduce group debts and renewable generation at its operational sites.
asserted
million → look → sites
Mr Haslett said he has spent six months reviewing the group since taking on the top jobs and said a better “operational grip” was needed on the business, while he is also bringing some critical roles in-house, such as leakage teams, which were previously outsourced.
asserted
which → say → teams
He said customers would see improvements being made under the investment plans, reassuring them that leakage would start to reduce in the South West, where there have been high-profile issues with pollution, while improving supply failures and customer service.
asserted
leakage → say → failures
The chief executive admitted the group had “work to do” to improve customer service in the South West Water and SES Water, but hopes this will be helped by a new customer and billing platform.
asserted
this → admit → platform
The Aporia
