Welsh Water Organizational Structure & Org Chart

Welsh Water is owned by Glas Cymru, a company limited by guarantee: no shareholders, a Board accountable to Members, and a securitized debt group below.

Welsh Water organizational chart

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Welsh Water's reporting structure as of 2026-03. Drag to pan, scroll to zoom — or open it in QueryChart and edit it as your own.

Industry: Water and wastewater utility
Ownership: Private
Structure as of: 2026-03
Structure last reviewed: 2026-11-04

About the company

Dŵr Cymru Cyfyngedig, known as Welsh Water, serves 1.5 million households and 105,000 businesses across most of Wales, Herefordshire and parts of Deeside, according to its 2025-26 annual report. That report is published by Glas Cymru Holdings Cyfyngedig, the group's holding company, which describes a not-for-profit model with no shareholders.

Glas Cymru Holdings Cyfyngedig is a company limited by guarantee. Its Members, independently selected from the supply area with no financial stake, elect the Directors and hold the Board to account. A joint Board runs both Glas Cymru and Dŵr Cymru Cyfyngedig. The chart follows the report's list of group companies for the year to 31 March 2026, filed at Companies House in September 2026.

No shareholders, but still a debt-financed group

The dotted lines from Glas Cymru Holdings Cyfyngedig to the Members and the Board are governance, not ownership: nobody holds shares in it, so the chart has no investor line. The report says it owns 100% of Glas Cymru Anghyfyngedig and Welsh Water Holdings Limited, pays no dividends, and retains surpluses from the regulated business for customers.

Having no shareholders does not remove lenders. Glas Cymru Anghyfyngedig heads a securitized group that pledges revenues and core assets to lenders under a Common Terms Agreement; the holding company sits outside that ring-fence. Lines below Glas Cymru Anghyfyngedig show membership of that group. The report does not give the full order of ownership between its companies, except that Dŵr Cymru (Holdings) Limited holds the shares in Dŵr Cymru Cyfyngedig.

How this structure supports the business

In most company charts the top box is an investor. Here the top box is a holding company whose Members have no financial stake, so governance can be drawn as the thing above the business and lenders as the claim that remains. A plain list of entities would hide that the securitized debt structure, not shareholders, is what constrains the regulated company.

Interesting facts

Glas Cymru's Members come from across the supply area, have no financial stake, receive no fee, and are not appointed to represent any group.
No dividends were paid in 2025-26; the report says surpluses from the regulated business are retained for customers.
Glas Cymru Holdings Cyfyngedig was created in 2015-16 as the group's holding company, when Glas Cymru Cyfyngedig was re-registered as Glas Cymru Anghyfyngedig.

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