Severn Trent given green light for multi-billion-pound boost for Midlands
The water company says it will help improve river health and get people into work
The water company serving the Midlands has been given the green light for a major multi-billion pound investment programme - set to deliver what's described as 'huge benefits.'
The plans will improve river health, secure the region’s water supply for generations, while keeping bills affordable.
The five-year plan is underpinned by a track record of keeping customer bills the second lowest bill in England. Severn Trent will also increase its financial support for customers to £575m to help more than 700,000 people - double the current number.
The proposals also see bills remain affordable and to offer financial support for residents, with Severn Trent bills currently being the second cheapest in the UK.
Job creation is also mentioned in the plan, which includes a ten-year commitment to help 100,000 into work.
Welcoming Ofwat’s backing for the £12bn investment programme to bring growth to the region, Chief Executive Liv Garfield said: “Our customers told us what mattered most, and we listened. This multibillion-pound investment will bring huge benefits to our region now and for generations to come with a secure water supply of the best quality, reducing impact on rivers down to nearly zero, whilst importantly keeping bills affordable and helping anyone who needs extra support.
“Our customers will continue to have the second lowest bill in the country, backed by one of the largest financial support packages available - if anybody needs help it’s there. Another boost to the local economy is significant job creation, but we won’t stop there - we’ll help thousands more across the region back to work.”
Liv continued, “Our dedicated team of around 9,000 Severn Trent employees have enabled us to be recognised as an Outstanding company by Ofwat and we now stand ready to deliver the thousands of exciting projects that will make a huge difference to our customers and communities.
“Thanks to our recent £1bn cash injection from our investors, we’re building on our sector leading performance to accelerate investment and deliver immediate benefits on the things that matter most, including reducing the use of storm overflows at 900 sites this year alone.”