Utility giant Pennon has announced plans to extend its water share scheme to households in Bristol. The Exeter-based FTSE-250 firm, which owns Bristol Water, launched the initiative in 2020 to give its customers a greater say in how the business is run.
The WaterShare+ scheme gives households the choice between acquiring shares in Pennon Group or a one-off bill reduction up to the value of £13. The scheme is already available to South West Water and Bournemouth Water customers, with 500,000 Bristol Water customers now also eligible.
According to Pennon, the launch of the scheme in 2020 saw one in 16 households in the region become shareholders under WaterShare+. The company said the new phase of the scheme would see the group share around £20m in value with its customers.
