WaterShare+
A greater say in your water
Giving you a greater say in your water company
WaterShare+ is a unique scheme that rewards our customers when we outperform and gives you a greater say in how we operate.
As part of the scheme, we offer our customers shares in our parent company, Pennon Group Plc, or money off your water bill.
So far, we have issued shares in 2020 and 2022, with 1 in 14 customers now shareholders in our business. We are incredibly proud that we now have a greater number of customer shareholders than any other shareholder group.
As well as this, the independent WaterShare+ Panel perform a vital role, as they directly represent customers, meeting with us to challenge on performance, champion customer concerns, and provide assurance on our performance reporting. The Panel is designated as our Independent Challenge Group by our economic regulator, Ofwat.

Everyone is invited – come along to The Panel’s public meetings!
The Panel’s public meetings are a great opportunity for you to engage and put your questions directly to our senior leadership.
Where these meetings occur in-person, we bring along staff from specialist teams so that you can learn more about your water. Don’t worry if you can’t make it in person though – many of the Panel’s public meetings are online.
Details of our next meeting:
- Title: Customer Annual General Meeting (CAGM)
- Event Date: Tuesday, 2nd September 2025
- Location: The Bridge House Hotel, 2 Ringwood Road, Bournemouth BH22 9AN
- Time: 10am-1:30pm
REGISTRATIONS ARE CURRENTLY CLOSED FOR THIS MEETING.
If you have any queries, please get in touch with our WaterShare+ team.
Upcoming meeting dates
Date
Time
Location
02/09/2025
10:00 - 13:00
Bournemouth (WS+ Customer AGM)
21/11/2025
10:00 - 13:00
Online
11/02/2026
10:00 - 13:00
Online
WaterShare+ public meeting minutes 2021-24
WaterShare+ Public Meeting Minutes December 2024
WaterShare+ Public Meeting Minutes November 2024
WaterShare+ Public Meeting Minutes September 2024
WaterShare+ Public Meeting Minutes July 2024
WaterShare+ Public Meeting Minutes 23 January 2024
WaterShare+ Public Meeting Minutes 11 December 2023
WaterShare+ Public Meeting Minutes 23 June 2023
WaterShare+ Public Meeting Minutes 28 March 2023
WaterShare+ Public Meeting Minutes 13 December 2022
WaterShare+ Public Meeting Minutes 13 June 2022
WaterShare+ Public Meeting Minutes 17 March 2022
WaterShare+ Public Meeting Minutes 7 July 2021
BWCP annual reports
The Bristol Water Challenge Panel provides a report every year that ensures we understand the priorities and preferences of our diverse customers, increase and strengthen dialogue with our customers, and listen to our customers.
Challenge Panel report 2024/25
Challenge Panel report 2023/24
Challenge Panel report 2022/23
Challenge Panel report 2022/23 (accessible version)
Challenge Panel report 2021/22
Challenge Panel report 2021/22 (accessible version)
Challenge Panel report 2019-20
Challenge Panel performance review 2019-20
Challenge Panel report 2018-19
Challenge Panel performance review 2018-19
Challenge Panel report 2017-18
Challenge Panel commentary 2017-18
Challenge Panel report 2016-17
BWCP meeting minutes
Our Bristol Water Challenge Panel hold regular meetings. You'll find the minutes here:
Other publications
BWCP - Our report on the business plan 2020-2025
BWCP - Terms of reference 2020-2025
If you have any questions please contact Chloe Donnelly at chloe.donnelly@bristolwater.co.uk.
BWCP - Response to draft determination
WaterShare+ annual reports
WaterShare+ public meeting minutes 2025
WaterShare+ public meeting minutes 2021-24
WaterShare+ Public Meeting Minutes December 2024
WaterShare+ Public Meeting Minutes November 2024
WaterShare+ Public Meeting Minutes September 2024
WaterShare+ Public Meeting Minutes July 2024
WaterShare+ Public Meeting Minutes 23 January 2024
WaterShare+ Public Meeting Minutes 11 December 2023
WaterShare+ Public Meeting Minutes 23 June 2023
WaterShare+ Public Meeting Minutes 28 March 2023
WaterShare+ Public Meeting Minutes 13 December 2022
WaterShare+ Public Meeting Minutes 13 June 2022
WaterShare+ Public Meeting Minutes 17 March 2022
WaterShare+ Public Meeting Minutes 7 July 2021
BWCP annual reports
The Bristol Water Challenge Panel provides a report every year that ensures we understand the priorities and preferences of our diverse customers, increase and strengthen dialogue with our customers, and listen to our customers.
Challenge Panel report 2024/25
Challenge Panel report 2023/24
Challenge Panel report 2022/23
Challenge Panel report 2022/23 (accessible version)
Challenge Panel report 2021/22
Challenge Panel report 2021/22 (accessible version)
Challenge Panel report 2019-20
Challenge Panel performance review 2019-20
Challenge Panel report 2018-19
Challenge Panel performance review 2018-19
Challenge Panel report 2017-18
Challenge Panel commentary 2017-18
Challenge Panel report 2016-17
BWCP meeting minutes
Our Bristol Water Challenge Panel hold regular meetings. You'll find the minutes here:
Other publications
BWCP - Our report on the business plan 2020-2025
BWCP - Terms of reference 2020-2025
If you have any questions please contact Chloe Donnelly at chloe.donnelly@bristolwater.co.uk.
BWCP - Response to draft determination
WaterShare+ public meeting minutes 2021-24
WaterShare+ Public Meeting Minutes December 2024
WaterShare+ Public Meeting Minutes November 2024
WaterShare+ Public Meeting Minutes September 2024
WaterShare+ Public Meeting Minutes July 2024
WaterShare+ Public Meeting Minutes 23 January 2024
WaterShare+ Public Meeting Minutes 11 December 2023
WaterShare+ Public Meeting Minutes 23 June 2023
WaterShare+ Public Meeting Minutes 28 March 2023
WaterShare+ Public Meeting Minutes 13 December 2022
WaterShare+ Public Meeting Minutes 13 June 2022
WaterShare+ Public Meeting Minutes 17 March 2022
WaterShare+ Public Meeting Minutes 7 July 2021
BWCP annual reports
The Bristol Water Challenge Panel provides a report every year that ensures we understand the priorities and preferences of our diverse customers, increase and strengthen dialogue with our customers, and listen to our customers.
Challenge Panel report 2024/25
Challenge Panel report 2023/24
Challenge Panel report 2022/23
Challenge Panel report 2022/23 (accessible version)
Challenge Panel report 2021/22
Challenge Panel report 2021/22 (accessible version)
Challenge Panel report 2019-20
Challenge Panel performance review 2019-20
Challenge Panel report 2018-19
Challenge Panel performance review 2018-19
Challenge Panel report 2017-18
Challenge Panel commentary 2017-18
Challenge Panel report 2016-17
BWCP meeting minutes
Our Bristol Water Challenge Panel hold regular meetings. You'll find the minutes here:
Other publications
BWCP - Our report on the business plan 2020-2025
BWCP - Terms of reference 2020-2025
If you have any questions please contact Chloe Donnelly at chloe.donnelly@bristolwater.co.uk.
BWCP - Response to draft determination
Meet the WaterShare+ Panel
Chaired by Lord Matthew Taylor, The Panel is formed of eight members who act as advocates for local customers and other stakeholders. The panel members represent all of our supply areas, including Devon, Cornwall, Bristol, and Bournemouth.
Lord Matthew Taylor, Chair
Chair of WaterShare+ Group Panel
Matthew has championed environmental improvement and a stronger customer voice in the water sector over many years. He professionally advises Government, local authorities and the private sector on planning for sustainable communities, community engagement and the wider environment.
Peaches Golding OBE, Deputy Chair
Deputy Chair of WaterShare+ Group Panel and Chair of Bristol Water Challenge Panel
Peaches is His Majesty’s Lord Lieutenant for Bristol. She is an experienced Executive and Non-Executive Board member in the private, public and charitable sectors and an Honorary Captain, Royal Naval Reserves.
Anthony Denham
Deputy Chair of Bristol Water Challenge Panel
After 35 years in the nuclear power industry, Anthony became a water customer champion by joining the Consumer Council for Water. Since 2015, Anthony has helped to lead the challenge on behalf of water customers in the South West.
Nick Buckland OBE
WaterShare+ Chair for the Devon region
Nick transitioned from a successful IT career to a diverse portfolio across voluntary, public, and private sectors. He was honoured with an OBE in 2009 and an Honorary Doctorate in Technology in 2013.
Dinah Cox OBE DL
WaterShare+ Deputy Chair for the Devon region
Dinah chairs Devon Community Foundation, and is a Non-Executive Director for Devon and Cornwall Police and advises the National Trust. Awarded an OBE in 2008, she champions the voices of vulnerable communities.
Carole Theobald
WaterShare+ Chair for the Cornwall region
Carole is Chief Executive of iSight Cornwall, with over 25 years of leadership experience in the public and charity sectors. She specialises in strategy, communications, and advocacy, with a strong track record in inclusive engagement and reputation management.
Ben Harper
WaterShare+ Deputy Chair for the Cornwall region
Ben is Chief Executive of the Watergate Bay group of companies, in Cornwall. Ben is a champion for business within the South West and his experience in customer focused businesses provides the panel with external insight and perspective.
Richard Lacey
WaterShare+ Chair for the Bournemouth region
Richard, a Chartered Civil Engineer with extensive UK and international water industry experience, supports Bournemouth Water customers through the WaterShare+ Panel, following his leadership during South West Water’s acquisition of the company in 2016.
Louise Coulton
WaterShare+ Deputy Chair for the Bournemouth region
Louise is a collaborative senior leader with 25+ years in financial services, including 14 in compliance. She champions ethical governance, regulatory integrity and consumer advocacy across public and social sectors.
Alison Thompson
WaterShare+ Co-Chair for the SES region, Co-Chair of the SES Customer and Environment Scrutiny Panel
Alison is a Chair and management consultant, a Board Advisor, and teaches at Cambridge University. She brings sharp commercial insight, with a strong focus on future customers and environmental sustainability.

Steve Crabb
WaterShare+ Co-Chair for the SES region, Co-Chair of the SES Customer and Environment Scrutiny Panel
Steve is a consumer affairs specialist who focuses particularly on ensuring that vulnerable households receive fair and accessible services. He has held senior roles at British Gas and the Alzheimer’s Society and is also an award-winning writer.
Bristol Water Challenge Panel
The Bristol Water Challenge Panel (BWCP) takes on a similar role to the WaterShare+ panel but focuses exclusively on Bristol Water. The BWCP have overseen the integration of Bristol Water since it was acquired by South West Water’s parent company, Pennon Group, ensuring that the priorities of its customers have been heard throughout the process. The BWCP members meet quarterly, and a full list of its members can be found below:
Panel Member
Organisation
Panel role
Peaches Golding OBE
Independent
Chair
Tony Denham
Independent
Deputy Chair
Fran Begley
South Bristol Advice Centre
Panel member
Dr Tabinda Rashid-Fadel
NHS
Panel member
Cllr Patrick Keating
North Somerset Council
Panel member
Cllr Ros Wyke
Somerset Council
Panel member
Catherine Jones
CCW
Panel member
Tamsin Sutton
Environment Agency
Panel member
Laura Henley
Natural England
Panel member
Colin Williams
Independent
Panel member
Please remember information on this web page in relation to the share alternative under the WaterShare+ scheme is information only and not recommendation or advice. You might wish to consult an authorised financial advisor.
WaterShare+ FAQs
Who is Pennon Group?
Pennon Group Plc owns Bristol Water as well as other companies such as South West Water, Bournemouth Water and Pennon Water Services. It is a public limited company (plc), and its shares are traded on the London Stock Exchange. Pennon is based in Exeter in Devon. For information visit pennon-group.co.uk.
Why am I getting this £13?
In Pennon's five-year business plans, there's a commitment to sharing its success with customers. Thanks to performance between 2020 to 2022, Pennon will be sharing approximately £20 million with all its customers. This is part of the WaterShare+ scheme, which gives customers the choice between acquiring a share in Pennon Group Plc and a bill reduction, and a greater say in the company and how we are run.
Will I still get £13 if I owe you money from unpaid bills?
Yes. We can also help you if you are struggling to pay your water bills – please let us know as various support schemes are available. If you are struggling to pay your water bills, then it is unlikely that the share option is the right choice for you.
Do I have to pay tax on my £13?
No. However, if you choose the share option – you may have to pay capital gains tax if you make a profit above a certain limit when you sell shares. There could also be other tax consequences, for example in connection with any dividends declared on the shares. Individual circumstances will vary, and you may wish to seek qualified independent financial advice.
How does the share scheme work?
If you choose the share option, your £13 will be used to purchase Pennon shares listed on the London Stock Exchange. The number of shares will be rounded down to the nearest whole number, which means you may also receive a credit on your water bill to make up for the difference in share price and the amount you are eligible to receive. If the Pennon share price is more than £13 at the relevant time, Pennon may at its discretion top up the amount you’re eligible to receive so that you still receive a share. The shares will be acquired by Link Market Services Trustees Limited, part of Link Market Services, Pennon’s share registrar, who will hold the shares on behalf of participating customers. Customers will then receive dividends and hold voting rights in Pennon Group on the Pennon shares they acquire and be sent quarterly statements on how those shares are performing.
The share scheme is online only - customers need to provide an email address and bank account details. This will allow company reports and dividends to be delivered and processed electronically.
For the Pennon shares option, please be aware that terms, conditions, and risks apply. See the Customer Guide for further details. This service is only available to individual household customers, where the individual is at least 18 years old and a resident in the United Kingdom, is a UK tax resident only, is not a tax resident in any other jurisdiction and is not a US citizen. Please note, nothing in this letter should be taken as a recommendation to take any particular action.
Please note that the value of shares and any income derived from them can either decrease or increase, and you may not get back your original investment. If you are in any doubt as to what action to take, please contact an authorised financial advisor.
Can I sell a Pennon share received under WaterShare+?
Yes, you can.
Can I buy more shares?
Yes, you can.
What happens if I move home or stop being an account holder after the scheme has started?
If you move to a new home after you have registered your choice during the registration period, then don’t worry. You are still entitled to the £13 credit on your account. You will still also be eligible for the Pennon shares option, provided your new home is in the United Kingdom and you continue to meet the other eligibility criteria for shares.
If you opt for a share – this will be yours until you decide to sell it even if you no longer live in the south west region. However, customers should make themselves aware of certain restrictions that may apply should they hold shares while being resident outside the United Kingdom.
Who is Pennon Group?
Pennon Group Plc owns Bristol Water as well as other companies such as South West Water, Bournemouth Water and Pennon Water Services. It is a public limited company (plc), and its shares are traded on the London Stock Exchange. Pennon is based in Exeter in Devon. For information visit pennon-group.co.uk.
Why am I getting this £13?
In Pennon's five-year business plans, there's a commitment to sharing its success with customers. Thanks to performance between 2020 to 2022, Pennon will be sharing approximately £20 million with all its customers. This is part of the WaterShare+ scheme, which gives customers the choice between acquiring a share in Pennon Group Plc and a bill reduction, and a greater say in the company and how we are run.
Will I still get £13 if I owe you money from unpaid bills?
Yes. We can also help you if you are struggling to pay your water bills – please let us know as various support schemes are available. If you are struggling to pay your water bills, then it is unlikely that the share option is the right choice for you.
Do I have to pay tax on my £13?
No. However, if you choose the share option – you may have to pay capital gains tax if you make a profit above a certain limit when you sell shares. There could also be other tax consequences, for example in connection with any dividends declared on the shares. Individual circumstances will vary, and you may wish to seek qualified independent financial advice.
How does the share scheme work?
If you choose the share option, your £13 will be used to purchase Pennon shares listed on the London Stock Exchange. The number of shares will be rounded down to the nearest whole number, which means you may also receive a credit on your water bill to make up for the difference in share price and the amount you are eligible to receive. If the Pennon share price is more than £13 at the relevant time, Pennon may at its discretion top up the amount you’re eligible to receive so that you still receive a share. The shares will be acquired by Link Market Services Trustees Limited, part of Link Market Services, Pennon’s share registrar, who will hold the shares on behalf of participating customers. Customers will then receive dividends and hold voting rights in Pennon Group on the Pennon shares they acquire and be sent quarterly statements on how those shares are performing.
The share scheme is online only - customers need to provide an email address and bank account details. This will allow company reports and dividends to be delivered and processed electronically.
For the Pennon shares option, please be aware that terms, conditions, and risks apply. See the Customer Guide for further details. This service is only available to individual household customers, where the individual is at least 18 years old and a resident in the United Kingdom, is a UK tax resident only, is not a tax resident in any other jurisdiction and is not a US citizen. Please note, nothing in this letter should be taken as a recommendation to take any particular action.
Please note that the value of shares and any income derived from them can either decrease or increase, and you may not get back your original investment. If you are in any doubt as to what action to take, please contact an authorised financial advisor.
Can I sell a Pennon share received under WaterShare+?
Yes, you can.
Can I buy more shares?
Yes, you can.
What happens if I move home or stop being an account holder after the scheme has started?
If you move to a new home after you have registered your choice during the registration period, then don’t worry. You are still entitled to the £13 credit on your account. You will still also be eligible for the Pennon shares option, provided your new home is in the United Kingdom and you continue to meet the other eligibility criteria for shares.
If you opt for a share – this will be yours until you decide to sell it even if you no longer live in the south west region. However, customers should make themselves aware of certain restrictions that may apply should they hold shares while being resident outside the United Kingdom.
Who is Pennon Group?
Pennon Group Plc owns Bristol Water as well as other companies such as South West Water, Bournemouth Water and Pennon Water Services. It is a public limited company (plc), and its shares are traded on the London Stock Exchange. Pennon is based in Exeter in Devon. For information visit pennon-group.co.uk.
Why am I getting this £13?
In Pennon's five-year business plans, there's a commitment to sharing its success with customers. Thanks to performance between 2020 to 2022, Pennon will be sharing approximately £20 million with all its customers. This is part of the WaterShare+ scheme, which gives customers the choice between acquiring a share in Pennon Group Plc and a bill reduction, and a greater say in the company and how we are run.
Will I still get £13 if I owe you money from unpaid bills?
Yes. We can also help you if you are struggling to pay your water bills – please let us know as various support schemes are available. If you are struggling to pay your water bills, then it is unlikely that the share option is the right choice for you.
Do I have to pay tax on my £13?
No. However, if you choose the share option – you may have to pay capital gains tax if you make a profit above a certain limit when you sell shares. There could also be other tax consequences, for example in connection with any dividends declared on the shares. Individual circumstances will vary, and you may wish to seek qualified independent financial advice.
How does the share scheme work?
If you choose the share option, your £13 will be used to purchase Pennon shares listed on the London Stock Exchange. The number of shares will be rounded down to the nearest whole number, which means you may also receive a credit on your water bill to make up for the difference in share price and the amount you are eligible to receive. If the Pennon share price is more than £13 at the relevant time, Pennon may at its discretion top up the amount you’re eligible to receive so that you still receive a share. The shares will be acquired by Link Market Services Trustees Limited, part of Link Market Services, Pennon’s share registrar, who will hold the shares on behalf of participating customers. Customers will then receive dividends and hold voting rights in Pennon Group on the Pennon shares they acquire and be sent quarterly statements on how those shares are performing.
The share scheme is online only - customers need to provide an email address and bank account details. This will allow company reports and dividends to be delivered and processed electronically.
For the Pennon shares option, please be aware that terms, conditions, and risks apply. See the Customer Guide for further details. This service is only available to individual household customers, where the individual is at least 18 years old and a resident in the United Kingdom, is a UK tax resident only, is not a tax resident in any other jurisdiction and is not a US citizen. Please note, nothing in this letter should be taken as a recommendation to take any particular action.
Please note that the value of shares and any income derived from them can either decrease or increase, and you may not get back your original investment. If you are in any doubt as to what action to take, please contact an authorised financial advisor.
Can I sell a Pennon share received under WaterShare+?
Yes, you can.
Can I buy more shares?
Yes, you can.
What happens if I move home or stop being an account holder after the scheme has started?
If you move to a new home after you have registered your choice during the registration period, then don’t worry. You are still entitled to the £13 credit on your account. You will still also be eligible for the Pennon shares option, provided your new home is in the United Kingdom and you continue to meet the other eligibility criteria for shares.
If you opt for a share – this will be yours until you decide to sell it even if you no longer live in the south west region. However, customers should make themselves aware of certain restrictions that may apply should they hold shares while being resident outside the United Kingdom.
Important information
References to and details of the customer share offer (the “Offer”) in Pennon Group Plc (“Pennon”) on this website are an advertisement and not a prospectus for the purposes of the EU Prospectus Regulations. The references to and details of the Offer, which have been prepared by and are the sole responsibility of Pennon, have been approved solely for the purposes of section 21 of the Financial Services and Markets Act 2020, as amended by Barclays Bank PLC (“Barclays”) on 11 November 2022.
Barclays, whose registered address is at 1 Churchill Place, London E14 5HP, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Barclays is acting exclusively for Pennon and for no-one else in relation to or in connection with the Offer and will not be responsible to anyone other than Pennon for the protection offered to clients of Barclays and is not providing, and will not provide, advice in relation to the Offer or any related matter.
Customers should not elect to acquire the Pennon shares in the Offer except on the basis of the information contained in the customer guide published by Pennon. You can read the customer guide by clicking on the link on this page.
This advertisement does not constitute an offer or recommendation concerning the Pennon shares. The Nominee Service is provided by Link Group which is a trading name of Link Market Services Trustees Limited which is authorised and regulated by the Financial Conduct Authority. Registered office: Central Square, 10th Floor, 29 Wellington Street, Leeds LS1 4DL. Registered in England and Wales No. 027279260. For further information, including the legal and regulatory status of this company, can be found via this web link.