Dwr Cymru Welsh Water ploughs £338m into projects
Welsh Water put £338m into capital projects in the past year, up £76m on 2012, its financial results show.
Dwr Cymru Welsh Water also announced that finance director Chris Jones will be taking on the chief executive role when Nigel Annett steps down.
The firm, with three million customers, said it had kept bills to the same level in real terms as in 2001.
Meanwhile, research by Cardiff University claims the company is worth £1bn a year to the Welsh economy.
BBC Wales economics reporter Sarah Dickins reports.