Severn Trent on track for targets just months after launching affordability scheme for struggling Brits
Water supply Severn Trent said it was enjoying a good start to the year operationally and said it expects at least £50m in customer outcome delivery incentives (ODI) outperformance payments in FY23.
In a trading update this morning, the company said it looks to retain its 4-star Environmental Performance Assessment rating for 2021 and expect this to be confirmed by the Environment Agency soon.
The company is also on track to meet or exceed target on 100 per cent of the environment ODIs this year.
Severn generated 145 GWh of energy in the first quarter of this financial year which equates to over 50 per cent of our consumption.
Earlier this year, the UK based firm set up an affordability scheme worth £30m to support an extra 100,000 customers, with inflation driving up household bills and putting pressure on millions of Brits.
Severn supplies more than eight million customers across the country, and has so far supported 215,000 customers with their water bill through a social tariff – allowing them to reduce it by up to 90 per cent.
The firm made the announcement alongside its headline results for the full-year which included a 6.4 per cent spike in group turnover this year, as consumption across businesses and industries returns to pre-pandemic levels.