Latest news with #environmentalstandards
Reuters
8 hours ago
- Business
- Reuters
UK utility Pennon swings to pretax annual loss on investment costs
June 3 (Reuters) - British water utility Pennon Group (PNN.L), opens new tab swung to an annual pretax loss on Tuesday, hurt by costs associated with the Brixham water supply incident and higher investments to upgrade its infrastructure. Britain's water companies are facing increased scrutiny due to pollution issues and mounting pressure to improve environmental standards while managing rising costs and regulatory demands. Water bills in England and Wales will increase by an average of 31 pounds per year between 2025 and 2030, according to industry regulator Ofwat's 2024 price review, to help finance essential investment in the sector. This is 8 pounds lower per year than what companies proposed in their plans, on average. Pennon, along with listed peers United Utilities (UU.L), opens new tab and Severn Trent (SVT.L), opens new tab, agreed to Ofwat's price review, unlike several privately owned water firms that appealed. In exchange for higher permitted income, Pennon is committing to invest 3.2 billion pounds ($4.33 billion) over five years in infrastructure upgrades. Ofwat's latest price review permits South West Water, the group's largest revenue contributor, to raise household bills by 23% leading to an average bill of 610 pounds by 2029-30. The group is partly relying on these higher tariffs to fund upgrades and meet tougher environmental standards, while restoring public confidence following recent pollution incidents. "While we have made the tough decision to put bills up in 2025-26, for the first time in over a decade, two-thirds of our investments are being funded by our supportive investors and debt providers," CEO Susan Davy said in a statement. Pennon reported adjusted loss before tax of 35.1 million pounds for the year ended March 31, narrower than market expectations of about 37 million pounds loss, according to data compiled by LSEG. ($1 = 0.7392 pounds)
CTV News
5 days ago
- Business
- CTV News
Controversial B.C. bill fast-tracking infrastructure projects passes as Speaker breaks tie
MLAs are set to vote on a pair of bills that have drawn widespread condemnation from First Nations leaders. VICTORIA — A controversial bill in British Columbia responding to American tariffs has passed with Speaker Raj Chouhan casting the deciding vote Wednesday evening. Bill 15 fast-tracks public and private infrastructure projects, and Chouhan's vote means that the bill has passed third and final reading by a 47-to-46 vote. All New Democrats voted for the legislation, while all 41 Conservatives, both B.C. Greens and the three Independents opposed it. The passage of Bill 15 comes after it has faced weeks of criticism from Indigenous groups, municipal officials, environmentalists and some business leaders, who say the legislation gives cabinet too much power when it comes to designating provincially significant projects. Critics say the bill also undermines environmental standards and constitutional obligations to consult First Nations. Premier David Eby's government says it will consult broadly when it comes to developing the regulations to implement the legislation. Chouhan's vote also pushed Bill 14 -- which would speed up renewable energy projects and transmission lines -- through the legislature. Provincial legislators earlier also passed the budget implementation act, as well as legislation that allows B.C. to break down internal trade barriers among other measures. That bill passed by four votes, as all 46 New Democrats and the two B.C. Greens voted in favour, with all 41 Conservatives and the three Independents voting to oppose. All four bills that passed now await royal assent from B.C. Lt.-Gov. Wendy Cocchia. This report by Wolfgang Depner of The Canadian Press was first published May 28, 2025.
Globe and Mail
6 days ago
- General
- Globe and Mail
Lax standards more than 50 years ago contributed to Calgary water main break, report says
A report says lax manufacturing standards more than 50 years ago and the breakdown of pipe materials likely caused the water main break that devastated Calgary's water supply last year. The Association of Professional Engineers and Geoscientists of Alberta says there's nothing to suggest malpractice by the city led to the rupture and that it was complying with group regulations. 'No indications of unskilled practice or unprofessional conduct were found during the practice review,' the association wrote in a news release Wednesday. Calgarians were asked last June to severely limit their water use after one of the city's two main water pipes burst, flooding a street with clean water. The city found numerous sections of pipe needed repairs, extending water restrictions into late September. After Calgary's water crisis, a Globe analysis finds trouble brewing in Canada's pipes The feeder main was expected to function for 100 years, but the report says relaxed standards around the time it was built in the 1970s may have led to the premature failure. Standards have since improved, the professional association said. The report suggests the pipe's concrete coating generated small cracks over the years and wires around it eventually snapped. 'The design of the pipe in the 1970s, while acceptable at the time, may not have been sufficient to prevent microcracking, leading to accelerated corrosion from aggressive environmental conditions over the entire life of the pipe,' the association wrote in the 596-page report. Soil chemicals such as chloride, found in snow and ice melt, often attack the concrete and steel wires that envelop the pipe, and the authors said the city should consider sampling the soil along its key water mains – particularly along major roadways and snow-removal routes. The report adds that strong monitoring and predictive technologies won't prevent a rupture from happening in the future. Calgary Mayor Jyoti Gondek said spending more to maintain Calgary's water system isn't optional and she's preparing to share an update next week on current and future improvements. 'We're taking this seriously,' she wrote in a statement.
CTV News
26-05-2025
- Politics
- CTV News
Chief says ‘era of trust' between First Nations and Eby is over if bills pass
Tsartlip First Nation Chief Don Tom speaks during a ceremony in the Hall of Honour at the Legislature, in Victoria, Wednesday, March 30, 2022. THE CANADIAN PRESS/Chad Hipolito VICTORIA — A First Nations leader says the 'era of trust' with the government of B.C. Premier David Eby is over if two bills responding to American tariffs pass this week. Chief Don Tom of the Tsartlip First Nation in Greater Victoria says First Nations will do everything in their legal power to kill bills 14 and 15, adding that First Nations will remember the actions of the government at the next election. Tom says at a protest in downtown Victoria steps away from the legislature that this won't just apply to the Premier himself, but every MLA who votes for the bills. The government says Bill 15 is needed to speed up public and private infrastructure projects in the face of tariff threats from the United States, while Bill 14 would streamline permitting for renewable energy projects, such as wind farms. First Nations want the bills withdrawn or revised, saying they undermine environmental standards and the constitutional rights of consultation for First Nations. Tom, who attended a meeting between Eby and the First Nations Leadership Council this month, says First Nations have 'a good record in the court system' when it comes to protecting their constitutional rights for consultation. This report by Wolfgang Depner, The Canadian Press, was first published May 26, 2025.
CTV News
26-05-2025
- Politics
- CTV News
Chief says ‘era of trust' between First Nations and Eby is over if bills pass
Tsartlip First Nation Chief Don Tom speaks during a ceremony in the Hall of Honour at the Legislature, in Victoria, Wednesday, March 30, 2022. THE CANADIAN PRESS/Chad Hipolito VICTORIA — A First Nations leader says the 'era of trust' with the government of B.C. Premier David Eby is over if two bills responding to American tariffs pass this week. Chief Don Tom of the Tsartlip First Nation in Greater Victoria says First Nations will do everything in their legal power to kill bills 14 and 15, adding that First Nations will remember the actions of the government at the next election. Tom says at a protest in downtown Victoria steps away from the legislature that this won't just apply to the Premier himself, but every MLA who votes for the bills. The government says Bill 15 is needed to speed up public and private infrastructure projects in the face of tariff threats from the United States, while Bill 14 would streamline permitting for renewable energy projects, such as wind farms. First Nations want the bills withdrawn or revised, saying they undermine environmental standards and the constitutional rights of consultation for First Nations. Tom, who attended a meeting between Eby and the First Nations Leadership Council this month, says First Nations have 'a good record in the court system' when it comes to protecting their constitutional rights for consultation. This report by Wolfgang Depner, The Canadian Press, was first published May 26, 2025.
