United Utilities Group PLC United Utilities Group PLC - Trading Update
February 14 2024 - 2:00AM
RNS Regulatory News
RNS Number : 0419D
United Utilities Group PLC
14 February 2024
14 February 2024
United Utilities Group
PLC
Trading
Update
United Utilities has continued to
deliver strong operating performance since our interim results,
resulting in no material changes to 2023/24 financial
guidance.
Supporting customers: We have
helped around 370,000 customers with affordability support so far
this AMP, and our proposals for AMP8 include our biggest ever
support package which will see us provide 1 in 6 customers with
over £500 million support.
Improving service: We were
pleased to be ranked as the number 1 Water and Sewerage Company
(WaSC), and the 5th utility company overall out of 31
utility companies in the latest independent Institute of Customer
Service Index survey. This independent survey benchmarks over 280
organisations across many brands and sectors.
Recognised for our strong sustainability focus:
We were pleased to have improved our
Sustainalytics ESG Risk Rating for 2023, placing us 12th
out of c.700 global Utilities, and to have
been included in S&P Global's 2024 Sustainability Yearbook,
with a Top 10% Corporate Sustainability Assessment (CSA) score
within the 74 companies in the multi and water utilities industry.
We maintained our CDP Climate A- score and achieved a B for our
first Water Security Questionnaire, showing our dedication to
transparency, accountability, and leadership in environmental
management. We have been recognised as part of the Taskforce on
Nature-related Financial Disclosures (TNFD) early adopters
following recommendations published in September last
year.
ODI
performance: Annual rainfall in 2023
was exceptionally high across the North West1, with
parts of our region experiencing rainfall up to 50% higher than
2022 and up to 33% higher than the long run average. Since the
start of 2023, there have been 14 named storms, of which 9 have
occurred since the end of September2. This weather has
adversely impacted our 2023/24 Outcome Delivery Incentive (ODI)
performance by around £25m. Net ODI outperformance is expected to
be around £40m for 2023/24.
Full year results: United
Utilities 2023/24 full year results will be announced on 16 May
2024.
Notes
1 Environment Agency
Water situation report England January 2024
(publishing.service.gov.uk)
2 As reported by Met Office UK Storm Centre
Contacts
Investors and
Analysts
|
|
Chris Laybutt, Investor
Relations and Clean Energy Strategy Director
|
+44 7769 556 858
|
Anna Oberg, Investor Relations
Manager
|
+44 7435 939 112
|
Media
|
|
Gaynor Kenyon, Corporate
Affairs Director
|
+44 7753 622 282
|
Graeme Wilson, Teneo
Communications
|
+44 207 260 2700
|
LEI 2138002IEYQAOC88ZJ59
Classification - Trading
update
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