The water firm said it will spend £450 million by the end of 2024 or early 2025 after a £1 billion equity raise from investors in October.
The water firm said it will spend £450 million by the end of 2024 or early 2025 after a £1 billion equity raise from investors in October.The chief executive of Severn Trent has defended her seven-figure pay package as the water firm outlined its plans to reduce sewage spills.
It comes as the industry faces fresh scrutiny over the quality of Britain’s water after revelations of a massive Lake Windermere sewage spill and that the parasite cryptosporidium has contaminated water systems in Devon. “During that period of time we’ve been the best-rated company across the piece whether it’s by the Environment Agency – we’ve had the best environmental record – whether it’s Ofwat in terms of our service performance, whether it’s investors contributing cash in. So, we’ve had the second lowest bill.”
“We’ve had not a great year in the last 12 months – accepted. But if you’ve looked at that four-year period over time – dramatic, dramatic progress.”Speaking of plans to spend some of the £1 billion cash injection, she said: “We’re talking about hundreds of people across ourselves and our supply chain literally building capital solutions between now and ideally Christmas … funded, as I said, by that investor contribution.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Look's prettiest summer dress that resembles £450 Ralph Lauren midi is £25If you're heading off on holiday or you're stocking your wardrobe for the summer, this £25 New Look white broderie dress seems to take inspiration from Ralph Lauren's £450 midi
Read more »
Condover Woodland Park transformed following Severn Trent Community Fund awardA project to improve a community woodland in Condover has been given a boost thanks to Severn Trent’s Community Fund.
Read more »
Social enterprise welcomes support from Severn Trent Community FundEnterprise South West Shropshire is celebrating a £6,350 funding award from the Severn Trent Community Fund in recognition of their vital support role to the community.
Read more »
Severn Trent reveals weird and wacky things incorrectly put into the sewersEver wondered how you’d fit a garden shed into the sewer, why a Ken doll was found swimming around in there or what other weird and wonderful items have been found by Severn Trent?
Read more »
Severn Trent offers Shropshire river health reassurances amid bathing site announcementSevern Trent has said it remains committed to improving river health as three Shropshire river sites are given bathing water status.
Read more »
Meghan's VERY regal outfit: Duchess bares her back in £450 Heidi Merrick Windsor gown from 2018 as...Prince Harry and Meghan fly to Nigeria for a three day 'royal' tour to promote Invictus Games. Harry flew to the country after a stop over in London, while Meghan flew directly from California.
Read more »