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Severn Trent on track to meet targets just months after launching affordability scheme for struggling Brits

Thursday, July 14, 2022 7:20 a.m.

The placement will bring £250 million to the company, which it will invest in a number of green projects.

Severn Trent Water Supply said it was enjoying a strong start to the year operationally and said it expects at least £50million in outperformance payments for delivery incentives of customer results (ODI) in FY23.

In a business update this morning, the company said it plans to maintain its 4-star environmental performance rating for 2021 and expects this to be confirmed soon by the Agency for Environmental Protection. environment.

The company is also on track to meet or exceed the 100% environmental ODI target this year.

Severn generated 145 GWh of energy in the first quarter of this fiscal year, which equates to over 50% of our consumption.

Earlier this year, the UK-based company introduced a £30m accessibility program to support an additional 100,000 customers as inflation drives up household bills and exerts a pressure on millions of Britons.

Severn supplies over eight million customers across the country and has so far supported 215,000 customers with their water bill through a social tariff – enabling them to reduce it by up to 90%.

The company made the announcement alongside its main results for the full year, which included a 6.4% increase in group revenue this year, as consumption in businesses and industries returns to low levels. before the pandemic.