Strong Cash Performance and Customer Affordability
The company maintained strong cash performance despite an increase in bills, doubling the number of customers on affordability schemes to mitigate impact.
Positive Engagement with Regulators
Continued engagement with regulators to discuss growth opportunities, reopeners, and implementation of new investment drivers, showing a proactive approach to future challenges.
Flexibility in Funding and Strong Balance Sheet
Reported a strong balance sheet with 60% net debt to RCV gearing, with flexibility to extend beyond current levels due to the Moody's Baa1 threshold of 68%.
Focus on Innovation and Efficiency
Emphasis on driving transformation through standard assets and deployment to manage costs and deliver on totex commitments.
Positive Outlook on Environmental Super Cycle
The company highlighted potential opportunities arising from government policies, particularly in water infrastructure and data center investments.