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.
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”.
