It offers its customers the lowest average water bills across England and Wales and is committed to improving the resilience and efficiency of UK water supplies.
Ancala first invested in Portsmouth Water in 2018. Ancala was attracted to Portsmouth Water because of its leading operational performance and the opportunity to develop the Havant Thicket reservoir. We made an unsolicited approach to the shareholders of the company. We were considered a strong fit as a new owner due to our strong water sector expertise – supported by our Industry Partners – and ability to realise the very complicated reservoir development project. Our approach secured the investment on a bilateral basis.
Since we invested, we have helped Portsmouth Water to implement improvements across the business including beginning the rollout of new smart metering technologies and the adoption of an industry-leading technology platform to enhance the company’s already leading customer service performance. Company-wide improvements have been delivered while maintaining low prices and low leakage levels. The business is well-placed to continue to deliver on its 25-year vision to supply high quality drinking water, high levels of customer services and excellent value for money.
Ancala has helped Portsmouth Water to secure planning permission and start construction of the UK’s first major reservoir since the 1980s. The reservoir – which will hold 8.7bn litres of water once completed – will play a key role in reducing abstraction from the South East’s internationally renowned chalk streams, the River Itchen and River Test. This also comes at a critical time where climate change and population growth are increasing strain on water supplies.
Our expertise and cross-sector network helped Portsmouth Water to secure the necessary planning approvals and agreement from the economic industry regulator, Ofwat, to support the construction of the reservoir along with the debt financing. We have also provided over £120m in additional funding to finance the project.
Ancala was able to bring in Industry Partners who are industry-leading executives within the sector to support with the development of the project and Portsmouth Water’s wider growth plans.
In the 2023 UNPRI assessment, Ancala received the following scores: Policy, Governance and Strategy: ★ ...Read more
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