Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
United Utilities maintains guidance despite weather effects
(Sharecast News) - United Utilities reported no significant changes to its financial guidance for the 2024 financial year in an update on Wednesday, despite weather-related challenges. The FTSE 100 water company said its outcome delivery incentive (ODI) performance had been affected by adverse weather conditions, particularly high rainfall across the north west of England.
Annual rainfall in 2023 exceeded historical averages, with some areas experiencing a 50% increase compared to the prior year and up to 33% higher than the long-term average.
The region had also faced 14 named storms since the beginning of 2023, nine of which happened after September.
It said those weather events led to an approximately £25m impact on United Utilities' ODI performance.
However, the company anticipated a net ODI outperformance of around £40m for the financial year.
United Utilities said it had provided affordability assistance to about 370,000 customers during the current asset management period (AMP).
The company's proposals for the next period, AMP8, included its largest-ever support package, aiming to assist one in six customers with over £500m in support.
United Utilities also noted that it had been ranked as the top water and sewerage company (WaSC) and the fifth utility company overall out of 31 companies in the latest Institute of Customer Service Index survey.
Additionally, the company said it had been acknowledged for its strong sustainability focus, reflected in its improved Sustainalytics ESG Risk Rating for 2023, placing it 12th among approximately 700 global utilities.
United Utilities said it had been included in S&P Global's 2024 Sustainability Yearbook, achieving a Top 10% Corporate Sustainability Assessment (CSA) score within the multi and water utilities industry.
The company maintained its CDP Climate A- score and attained a B rating for its first Water Security Questionnaire, and had been recognised as one of the early adopters of the Taskforce on Nature-related Financial Disclosures (TNFD) following recommendations published in September last year.
United Utilities said it would announce its full-year results for the 2024 financial year on 16 May.
At 0814 GMT, shares in United Utilities were up 1.02% at 1,037.5p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.