Severn Trent PLC on Wednesday said it has continued to deliver a strong service to customers despite facing the UK’s driest summer on record, as well as a ‘challenging’ winter.
The Coventry-based water company said it is on course to financially support 315,000 of its most vulnerable customers by the end of its AMP 7 period. AMP 7 is the seventh asset management period set out by the UK water industry, and runs from 2020 to 2025.
Severn Trent added that it is confident in achieving 4-star status - for the fourth consecutive year - in the UK Environment Agency’s 2022 Environmental Performance Assessment.
The company also noted that it has been recognised by the regulator, Ofwat, as the only water and sewage company in Ofwat’s leading category for performance and financial resilience.
The company said there has been no change to the business performance since the release of its interim results, and guidance for the year ending March 31 remains unchanged.
Severn Trent announced Severn Trent Green Power’s acquisition of Andigestion Ltd, which operates two food waste anaerobic digestion plants, which will add 45 gigawatt hours of energy generation, increasing Green Power’s output by 16%.
Severn Trent noted that it self-generates 50% of its energy consumption, which ‘significantly reduces the impact of higher power prices’ on its shareholder returns.
Severn Trent shares were up 0.4% trading at 2,865.00 pence per share on Wednesday morning in London.
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