Annual Performance and Sustainability Reports 2025-26
Explore the highlights of the past year from our operational delivery and strategic programmes, understand the challenges we have faced and our ongoing investments.
On this page you will find Portsmouth Water's latest combined Annual Performance Report and Accounts, and our first Annual Sustainability Report. Each year, in these reports we include information about our financial performance, our outcomes performance and progress towards our sustainability goals. We also report on our governance and assurance procedures as a business.
Our purpose, vision and values
Our long-term vision and priorities have been developed in partnership with our people, our customers and our communities. The Board takes overall responsibility for our purpose and values. Together, our purpose, values, vision and priorities make sure we invest in our future services, protect and improve our environment and provide support for those struggling financially. These shaped our business plan for 2025-30 and our 25-year Long-Term Delivery Strategy.
Priority one
Secure and deliver water supplies which are high quality, reliable and sustainable.
Priority two
Work in partnership with our customers, communities and stakeholders.
Priority three
Continue to invest in the future to meet growing environmental challenges.
Priority four
Achieve affordable water for all.
Always.
Company direction and performance
Every five years we submit a business plan to Ofwat setting out our proposed investment plan, performance targets and financing needs. This reporting year, 2025-26, was the first year of our latest business planning cycle, which runs to 2030.
We have 15 performance commitments for 2025-30, excluding Havant Thicket Reservoir. These cover every aspect of our business from customer service, to supply interruptions and biodiversity. From 2025, every water company has the same set of performance commitments (though the performance targets may differ).
In our Annual Performance Report and Accounts, you can find out exactly how we performed against each of our commitments, what we're already doing to meet these and how we're planning to meet them in the future.
Our commitments
Water quality standards
Customer contacts about water quality
Leakage
Per capita consumption
Water supply interruptions
Repairs to burst mains
Operational greenhouse gas emissions
Biodiversity
Unplanned outage
Business demand
Customer measure of experience
Developer measure of experience
Business customer and retailer measure of experience
Discharge permit compliance
Serious pollution incidents
“During 2025-26, we were the only water company to be named as ‘leading’ by Ofwat in respect of our 2024-25 performance.
I am also pleased to report that we have maintained our excellent performance during this last year against the majority of our
performance measures.”
Bob Taylor, Chief Executive Officer
Transforming for future delivery
Our business plan for 2025-30 included a step change in our level of investment with Ofwat’s final determination allowing for £377 million, £11 million higher than our initial business plan submission and an increase of more than £100 million compared to 2020-25.
In the last year, we have already invested £33 million to progress our plan, including:
Renew 10.4km of water mains
Replace 108 lead communication pipes
Invest £1.6 million on cyber upgrades
Invest £10,000 in water quality improvements
Install more than 15,000 smart water meters
Alongside these areas of progress in our investment projects, we were also able to maintain excellent performance in other areas, building on our reputation as 'leading' in the sector. We have also invested £81 million to progress Havant Thicket Reservoir during the year, the first major UK reservoir in a generation.
During 2025-26 we:
Were the only water company to be named ‘leading’ by our regulator, Ofwat, for our excellent all-round performance
Began the full roll-out of our smart water metering programme with more than 15,000 meters delivered so far – well ahead of our regulatory target of 3,200
Maintained the lowest bill of all water companies and supported nearly a third more customers with our Helping Hand social tariff
Celebrated 21 years of excellent health and safety performance, receiving the prestigious Order of Distinction from the Royal Society for the Prevention of Accidents (RoSPA)
Successfully mobilised new supply chain partners to start delivery of our largest investment programme – £377 million by 2030
Made good progress on the construction of Havant Thicket Reservoir, reaching a major milestone with the installation of a 20-tonne steel culvert cut-off wall
Annual Sustainability Report
Sustainability is central to who we are and how we operate. Although there is still more we can do, we have embedded sustainability across our organisation for many years. This year we've published our first standalone annual Sustainability Report, which marks the significant shift we have made to formalise our approach and record our achievements and decisions.
In this report we outline our sustainability goals, how we are working towards them, our latest initiatives and the opportunities and challenges we face along the way. Our aim is to demonstrate our on-going commitment to care for the environment, support our local communities, look after our people and deliver a reliable, affordable service for our customers.
Highlights of the year
£63,400
in grants to boost
biodiversity
1.79 million kWh
energy generated from renewable sources
20,637
customers benefitting from support tariffs
40
community
engagement
activities
“Publishing our first standalone Sustainability Report demonstrates our intent to be transparent, accountable and ambitious in how we respond to challenges.
As a company so closely connected to the environment and the communities we serve, we know our long-term success depends on managing resources responsibly and continually improving how we operate.”
Bob Taylor, Chief Executive Officer
Additional documents
Past reports
Account separation methodology statement
Unaudited interim results for the six months ended September
The document below details our Tax Strategy
Portsmouth Water is considering its current debt structure in the context of the forthcoming PR19 price review by Ofwat. As part of that review, Portsmouth would consider exploring options around its loan with Artesian Finance plc, including repurchasing bonds backed by the associated Portsmouth obligations.