Full year results
Year ended 31 March 2024
Thursday 16 May 2024
Louise Beardmore
Chief Executive
Overview
Performing well
operationally and
financially
Financial strength and
flexibility
Submitted ambitious
plan for AMP8
Strong track record
of delivering for
stakeholders
Continue to support
customers through
affordability packages
Already delivering for
AMP8
United Utilities • 2023/24 full year results • 3
Timeline
2 October 2023
Business plan submission
August | Early | ||
2025 | |||
2024 | |||
UUG dividend policy | |||
UU response to DD | |||
announcement | |||
12 June | Ongoing | December | April |
2024 | dialogue | 2024 | 2025 |
Draft | with | Final | Start of |
determinations | |||
determinations | regulators | AMP8 | |
United Utilities • 2023/24 full year results • 4
Highlights from our October business plan
Environmental
investment -
seven-fold increase
Strong balance sheet
A3/A- credit rating
Improving water
quality for
1.4m customers
60%
reduction
in storm overflow activations
in the decade to 2030
c.£22
average real increase in household bills, each year (2022/23 prices)
Job creation -
plan supports 30,000 jobs
32%
reduction in internal sewer flooding
£525m
affordability support -
>1 in 6 customers
74%
customer acceptability
United Utilities • 2023/24 full year results • 5
Totex phasing and engineering solutions
Plan scope discussions ongoing with EA, Ofwat and Defra
PR24 Totex (£bn, real) | ||
£13.7bn | 37% | 13.7 |
totex plan | real RCV growth | |
(2022/23 prices) | ||
6.5% real CAGR | ||
8.7% nominal CAGR |
12.7
Adaptive Planning scenario
£12.7bn (real)
Business Plan Submission | Adaptive Planning Scenario |
United Utilities • 2023/24 full year results • 6
Long-term investment drivers
AMP8 is the start of a 25yr growth programme
Environment Act
2021
Legislative changes
Tightening
environmental
standards
PFAS1, microplastics
Replacement
Renewing our infrastructure
25 Year
Plan
Resource adequacy
Investing in long-term resource management
Climate change
adaptation
Building resilience
Net Zero
Addressing
process emissions
1 Per- and polyfluoroalkyl substances | United Utilities • 2023/24 full year results • 7 |
Setting up for success
Where are we now?
AMP7 capital delivery on track
Delivered 100% of our Year 4 environmental deliverables
Where are we going?
AMP8 capital supply chain partners
(c.70), first contracts awarded
Accelerating c.£400m1 from AMP8 into
AMP7
1 c.£200m on our CSO programme as part of June 2023 Accelerated Infrastructure Delivery Project
and c.£200m of transitional investment | United Utilities • 2023/24 full year results • 8 |
Accelerated CSO investment
All Windermere
solutions in construction
this year
Issue identified and accelerated solution implemented in just
14 weeks
Cargo WwTW
Top spilling site in 2022:
343 spills
>90% reduction
in spills since
implementation of accelerated solution
United Utilities • 2023/24 full year results • 9
Improving our rivers
Impact on river health by attributable industry (%) | Plan to significantly reduce our impact |
Urban and
transport
15%
Other 15%
52% Agriculture and
rural land
management
18%
Water industry
Notes:
- Based on Environmental Agency data updated with United Utilities forecasts
- Reasons for not achieving good ecological status (RNAGs) in the North West
- Percentages reflect RNAGs that can be attributed specifically to sectors
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
Baseline | 2025 | 2030 |
United Utilities • 2023/24 full year results • 10
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United Utilities Group plc published this content on 16 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2024 08:31:06 UTC.