Long term public debt issues

United Utilities PLC and United Utilities Water Finance PLC are issuers in the debt markets.

Prior to 11 November 2014, United Utilities PLC and its regulated subsidiary, United Utilities Water PLC, were issuers in the debt markets. On 11 November 2014, United Utilities Water PLC re-registered as a private limited company, United Utilities Water Limited, and a new subsidiary, United Utilities Water Finance PLC, was introduced to act as a financing arm and issue listed debt on behalf of the regulated business.

The main driver behind the group's debt requirement is the capital investment programmes of United Utilities Water Limited. For the AMP7 regulatory period 2020-25, we expect to raise around £2.7 billion to cover refinancing and incremental debt, supporting our five-year investment programme. In 2022/23, we have raised £385 million of term funding, extending our liquidity position out to February 2025 as at 30 September 2022.

Below is a chart detailing our gross debt position as at 30 September 2022.

Below is a chart detailing our term debt maturity profile as at 30 September 2022.Debt maturity profile chart