United Utilities, the UK's largest listed water supplier, has announced plans to raise £800 million through a share sale to upgrade its water and sewage network across the North West, a move expected to create 4,000 jobs.
Investment Details
The retail offering, underpinned by a £400 million cornerstone investment from Atlas Infrastructure, will help finance approximately £2.5 billion in additional infrastructure upgrades. The investment aims to bolster network resilience and expand capacity for housing, data centres, and clean energy projects.
Job Creation and Economic Impact
The plan will generate 4,000 new jobs on top of the 30,000 already supported by existing five-year investment plans. Chief Executive Louise Beardmore emphasised the plan's importance for regional development, stating it is "critical to the development of homes, data centres and clean energy" in the North West.
Specific Projects
- Data centres in east Manchester: £200 million for new water infrastructure.
- Clean energy programme in Ellesmere Port, Cheshire: £220 million for water supply.
- Wastewater treatment upgrades: £350 million at 34 sites to support 66,000 new homes.
Context and Customer Impact
The investment comes amid intense scrutiny of water companies over supply outages, pollution, and sewage spills. Households have faced significant bill increases, with United Utilities raising customer bills by 9% from April, adding approximately £57 to annual bills under five-year plans agreed with regulator Ofwat. The company supplies most of the North West, including Greater Manchester, Cumbria, Lancashire, and Merseyside.
