Business
Annual Results for the year ended 31 March 2020
Annual Results for the year ended 31 March 2020.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \n \n RNS Number : 4051N\n Severn Trent PLC\n 20 May 2020\n \n \n \n Preliminary Announcement of Annual Results\n 20 May 2020\n Results for the year to 31 March 2020\n \n \n Operationally and financially resilient as we begin our new regulatory period\n \n \n \n Responding to COVID-19 by supporting our colleagues, customers and communities:\n \n \n · \n The health, safety and wellbeing of colleagues remains our first priority with adapted ways of working, mental health support and financial security assurances for frontline and home-working teams.\n \n \n · \n Operations remain resilient, as our agile approach enables us to continue delivering services reliably.\n \n \n · \n Customers supported with well-established social tariff schemes for those struggling to pay their bills and £3.5 million available through Severn Trent Trust Fund to further support those in need.\n \n \n · \n COVID-19 £1 million emergency fund1 established with over £500k already donated to c.200 organisations.\n \n \n · \n Supporting SME suppliers with immediate payment and commitments to invest, providing much needed certainty for our supply chain. \n \n \n \n Well placed for AMP7\n \n \n \n 2\n \n \n \n after strong final year of AMP6\n \n \n \n 2\n \n \n \n :\n \n \n \n · \n Continued improvements in key customer measures3 with year-on-year reductions in leakage (4%), supply interruptions (61%), water quality complaints (14%) and pollutions (11%). \n \n \n · \n Environmental performance contributing strongly to annual customer ODI4 outperformance of £36 million, taking total for AMP6 to £174 million, with £191 million (in nominal prices) deferred to AMP7 revenue.\n \n \n · \n Substantial £800 million capex investment in year completes £3 billion AMP6 programme, delivers flagship Birmingham Resilience Programme, improves 1,600km of river quality and provides a fast start to AMP7.\n \n \n · \n Industry leading 4* EPA accreditation anticipated5 from EA, reflecting strong environmental performance.\n \n \n · \n 491GWh of renewable energy generated, equivalent to 51% of our energy needs, with the remainder purchased from renewable sources from 1 April 2020 - ten years ahead of our 2030 target.\n \n \n · \n £10 million Severn Trent Community Fund, made up of 1% of Severn Trent Water AMP7 profits, launched in April with over £400k already ...