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The recorded profits for Welsh Water during the last year have been revealed as being £50 million- an incredible increase on the £29 million they recorded the year before.
These results put 2013/2014 as the strongest operational year for the company since it became a non-shareholder-owned company back in 2001. The report also clarified that Welsh Water customers had the lowest price increase on an average bill for all water firms for the forth year in a row. With customer satisfaction being reported as being over 90%, it is clear that Welsh Water is doing very well for themselves at the moment.
The Chief Executive of Welsh Water, Chris Jones, said
Despite the considerable challenges of the past 12 months, including extreme weather conditions, we are pleased that we have delivered our strongest overall performance yet since being set-up as a non-shareholder company. Our focus is always on trying to do the right thing for our customers.Through our performance and dedication of colleagues, we are determined to continue earning their trust by delivering the best possible service and safeguarding the environment on which we all depend.
In the 2013/2014 year, Welsh Water has returned around £43m to its customers, as well as being on its way to returning a further £136m to its customers before 2015 by speeding up investment in its services, reducing bills and assisting more customers who find themselves genuinely struggling to make the payments of their bills.
The report shows that the company has invested over £350 million in capital projects during 2013 and 2014 as well as an additional £344 million being spent in the next year. The additional spending in the next year will include maintenance and upgrading work on the water mains and sewers as well as building new water treatment works, located in Conwy, Ceredigion and on Anglesey. Some of the funding for the next year will also be spent on developing techniques that help to avoid flooding, such as RainScape in Llanelli. This scheme is about helping to avoid build ups of surface water and flooding in sewers.
The latest results confirmed that there are even better improvements in the quality of Welsh Water’s drinking water supply, as it showed that the firm had achieved the lowest number of serious pollution incidents in both England and Wales.
The company said that it has managed to maintain its high levels of service despite the extreme weather conditions that the country was faced with last year, including extended period of hot weather and the wettest winter in nearly 250 years.