PENNON GROUP
7 March 2022
CMA clears Bristol Water merger with South West Water
The CMA has today published its clearance of the merger of Bristol Water with South West Water, following the acquisition announced in June 2021.
Pennon Group plc is pleased that the undertakings proposed, which will maintain separate price controls for the Bristol Water region within a merged water business [1] , have now been accepted.
We will continue to work collaboratively with Ofwat throughout the next steps of the process as we seek to combine South West Water and Bristol Water into one licence and business entity.
The combined entity will enable the most effective and efficient delivery of services for our customers in all the regions we serve, whilst also providing Ofwat with comparative cost and performance data.
Susan Davy, Pennon Group CEO, said:
“The merger of Bristol Water with South West Water is all about bringing together the best of the best to deliver for our customers, communities, and the environment in the Greater South West.
We have a track record of delivery and are working across both businesses to deploy our proven integration strategy, which we are confident will deliver meaningful benefits for all stakeholders.
Alongside this, we are excited to further evolve our WaterShare+ unique customer share ownership scheme, offering Bristol Water customers a greater stake and say in the business.”