United Utilities Group (UU.)

Sector:

Utilities

Index:

FTSE 100

1,054.50p
   
  • Change Today:
      10.50p
  • 52 Week High: 1,054.50
  • 52 Week Low: 822.80
  • Currency: UK Pounds
  • Shares Issued: 955.90m
  • Volume: 3,248,059
  • Market Cap: £10,080m
  • RiskGrade: 118

Almost half of UK solar panels from firms linked to Xinjiang forced labour

By Caoimhe Toman

Date: Monday 26 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Around 40% of solar panels used in the UK are from Chinese firms that have been accused of exploiting forced labour camps in the region of Xinjiang.
According to an investigation by the Guardian, solar projects commissioned by the Ministry of Defence, the UK government's Coal Authority, United Utilities and other leading renewable energy developers in the country have made deals with these firms.

Confidential industry data suggests that up to 40% of the UK's solar farms were built using panels manufactured by China's biggest solar panel companies, including Jinko Solar, JA Solar and Trina Solar.

The firms were named in a recent report regarding the internment of over 1m Muslim Uyghurs in the province of Xinjiang who they employ for polysilicon production.

Xinjiang's polysilicon interests are allegedly controlled by the Xinjiang Production and Construction Corps, an economic and paramilitary organisation that is facing US sanctions after accusations that the group has facilitated widespread human rights abuses against Uyghur Muslims.

Many of the panels were built for the UK's solar industry before knowledge of the abuses was made public but the investigation found a number of more recent deals.

An industry source told the Guardian that the industry was making efforts to distance itself from the use of forced labour and UK MPs voted last Thursday to describe the internment of the minority population as genocide.

The UK Ministry of Defence (MoD), which this month revealed plans to install the first of 80 solar farms on the army estate at Leconfield, did not answer the Guardian's questions about what checks it had made on the companies' supply chains.

An MoD spokesperson said: "We have robust procedures in place that allow us to vet and routinely monitor all aspects of our supply chain, which is kept under constant review."

A spokesperson for the UK's Coal Authority said: "We are thoroughly investigating recent allegations of forced labour in solar panel supply chains. In January we announced a comprehensive package of measures to help ensure no UK organisations are complicit in the serious human rights violations being perpetrated against the Uyghurs and other minorities in Xinjiang."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

United Utilities Market Data

Currency UK Pounds
Share Price 1,054.50p
Change Today 10.50p
% Change 1.01 %
52 Week High 1,054.50
52 Week Low 822.80
Volume 3,248,059
Shares Issued 955.90m
Market Cap £10,080m
RiskGrade 118

United Utilities Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.15% above the market average59.15% above the market average59.15% above the market average59.15% above the market average59.15% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
26.09% above the market average26.09% above the market average26.09% above the market average26.09% above the market average26.09% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
76.99% above the market average76.99% above the market average76.99% above the market average76.99% above the market average76.99% above the market average
Sector averageSector averageSector averageSector averageSector average
Growth
98.84% below the market average98.84% below the market average98.84% below the market average98.84% below the market average98.84% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 6
Sell 0
Strong Sell 4
Total 15
neutral
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United Utilities Dividends

  Latest Previous
  Final Interim
Ex-Div 24-Jun-21 17-Dec-20
Paid 02-Aug-21 01-Feb-21
Amount 28.83p 14.41p

Trades for 27-Jul-2021

Time Volume / Share Price
16:35 413,094 @ 1,054.50p
16:29 23 @ 1,053.00p
16:29 31 @ 1,053.00p
16:29 28 @ 1,053.00p
16:29 197 @ 1,053.00p

United Utilities Key Personnel

CEO Steven L Mogford
Chair David Higgins
CFO Phil Aspin

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