Severn Trent reveals record investment levels in a decade and lowest bills in England for tenth year running
Tuesday 21st May 2019
Midlands water company Severn Trent has announced its highest levels of investment for a decade, while keeping customer bills the lowest in England for the tenth year running.
The FTSE 100 company released its annual results on Tuesday 21 May, revealing it has invested £769m on new projects for its customers – the most in a single year for a decade.
The company is also well on track to spend £1,300 for every single one of its customers by next March, with total investment of £6bn over five years.
Alongside that, Severn Trent has also revealed details of how it has ambitious plans to become a leader in lowering carbon emission, and how it intends to help its customers and communities even more.
Liv Garfield, Severn Trent chief executive, said: “Customers are at the heart of our business but we also wanted to do the right thing for the communities where we live and work. That means we’ve not only developed our new community fund, where 1% of our profits will go to hundreds of projects that directly affect our customers, we’ll also take a wider role in helping to protect the environment.
“Whether by getting our employees to volunteer around our patch, or by signing up to the triple carbon pledge, where we’ll move to 100% renewable energy, have net zero carbon emissions and to have an entirely electric fleet of vehicles, or by helping to clean up our rivers, we believe we’re doing the right thing for the environment.
”As part of the investments being made this year, Severn Trent is continuing to work on its £300m Birmingham Resilience Project and its £60m scheme to protect homes and businesses in Newark from flooding."
It is also spending £13m on replacing 85km of pipes in Leicestershire, £11m in Stroud to improve supplies to 55,000 customers, and £14m across Derbyshire with new pipes everywhere from Buxton to Derby itself.