Pennon : Social Market Foundation Report on cost of water nationalisation – South West Water statement

Sarah Heald, Pennon's Director of Corporate Affairs & Investor Relations: 'This is the second authoritative report from a respected think tank highlighting the massive cost to the taxpayer if the water industry was to be nationalised. It questions whether the necessary future investment in water infrastructure would be publicly and properly funded versus other priorities such as the NHS or defence.

'For our part, whatever peoples' ideologies, we're continuing our relentless focus on delivering what customers have said matters most to them, at a price they can afford and are willing to pay. Last week we announced that from April our average bill will lower than nine years ago and were the only water and wastewater company not to increase prices.

'Since 1990 we've spent £7billion transforming services and the environment in the South West, redressing decades of neglect and underinvestment. We plan to invest up to £9billion more to 2050.'

For more information see http://www.smf.co.uk/publications/water-nationalisation/ and http://www.cps.org.uk/publications/the-cost-of-nationalisation.