Water firm’s green project on target
NORTHUMBRIAN Water today said work was forging ahead on a multi-million pound investment project on Teesside as it reported a “strong” set of half year financial results.
The company is spending £32m on a major green power from waste project at its Bran Sands site on the Tees.
John Cuthbert, managing director of Northumbrian Water, said work was now underway and the project was on target to be completed in early 2009.
Sludge remaining after sewage treatment will be converted into green energy to power Northumbrian Water’s biggest works at Bran Sands.
The update came as Northumbrian Water said pre-tax profits for the six months to the end of September climbed 16.6% to £88m.
Revenue for the six months was up 5.7% to £333.8m.
Mr Cuthbert added: “The group has delivered strong operational and financial performance in the first six months - ahead of market expectations.”
Northumbrian Water today also published its “Looking to the future”, strategic statements.
Mr Cuthbert said the consultation documents set out the company’s ambitions for the next 25 years and beyond.
“This is an opportunity to look at the longer term and develop our business plan.”
In today’s update Northumbrian Water also said it had achieved the highest levels of customer satisfaction in England and Wales with 96% of customers satisfied with their water supply and 93% with their sewerage services.
Leakage targets were also achieved and it had secured 100% bathing water compliance.
Capital investment for the period was £117m - up from £100.5m the previous year.
Mr Cuthbert added: “As announced previously, Northumbrian Water has successfully raised the finance for its investment programme through to 2010 and will not be increasing prices to customers by the full amount allowed.
“That means by 2010 customers will be £22m better off.”
He added: “The company’s operating and financial performance remains strong.
“By continuing to concentrate on our core water and waste water competencies we will maintain our high levels of customer satisfaction and our ability to deliver value to our stakeholders.
“We will continue to focus on managing energy costs and take positive steps to reduce the environmental impact of our business.
