Pennon Group Plc has released a trading statement and business plan update for the six months ending September 30, 2023. The company reported that its trading is in line with management expectations. It highlighted the success of its water resilience investment, which has led to the lifting of all Temporary Use Bans in the South West region. The company is on track to deliver its significant environmental investment plan, with a capital expenditure of over £400 million for 2023/24. Pennon Group is strategically positioned to double its RORE base returns over the next regulatory period. It is also making progress in its renewable energy generation investments to accelerate its Net Zero 2030 commitment. The company has submitted its business plan for South West Water to Ofwat, outlining a capital investment of approximately £2.8 billion over the next regulatory period (2025-2030). Pennon Group expects its gearing for the next regulatory period to remain within the range of 55-65%. CEO Susan Davy stated that the company's plan will create jobs, deliver on environmental commitments, and keep bill increases low. The company has seen improvements in its performance and is focused on building a sustainable platform for the next regulatory period. Pennon Group's water resilience efforts have led to a significant improvement in water resources, allowing for the lifting of all Temporary Use Bans in Devon and Cornwall. The company's investment plans to diversify water resources and boost resilience are progressing well. Pennon Group is also making progress in its environmental improvement program, with a total investment of over £400 million expected for 2023/24. The company is confident in achieving its commitments and targets for 2025. Pennon Group is strategically well positioned to double its base RORE returns and expects its gearing to remain within the established range. The company's financing strategy has ensured its strategic position in the current macro-environment.