Business
Severn Trent Capital Markets Event
Severn Trent Capital Markets Event.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8309M\n Severn Trent PLC\n 24 September 2021\n \n \n \n \n LEI: 213800RPBXRETY4A4C59\n \n \n \n \n SEVERN TRENT CAPITAL MARKETS EVENT\n \n Severn Trent is hosting a Capital Markets Event today to provide more detail about three key areas of differentiation that we believe will drive outperformance in the years ahead, benefitting all of our stakeholders:\n 1. Our sector leading customer ODI performance and how we can continue to deliver outperformance into AMP8 and beyond.\n 2. Strong RCV growth, with a particular emphasis on our six Green Recovery schemes.\n 3. Our approach to Net Zero, and how we will reach our Triple Carbon Pledge target by 2030.\n Sector leading customer ODI performance\n Our strong ODI performance in the first year of AMP7 resulted in a sector leading ODI reward of £79 million1. We have harnessed the power of ODIs to transform our business for the benefit our customers and wider stakeholders. We remain confident in the guidance we provided at our year-end results, of a net reward of at least £40 million1 for the current year.\n Investing for the future\n Following the award of Ofwat's Green Recovery scheme, we expect AMP7 RCV growth in real terms to be over 10%. Our Projects will support economic recovery in our region and deliver environmental improvements, through new innovative schemes that could provide a blueprint for future RCV growth. 85% of the £565 million2 investment under the Green Recovery Scheme will be added to our RCV, with the balance taken as AMP7 revenue.\n Path to Net Zero\n In the two years since we announced our Triple Carbon Pledge of Net Zero Emissions, 100% Electric Fleet, and 100% of energy from renewable sources - all by 2030, we have made good progress:\n \n · We have substantially achieved one of our triple pledges, with all our electricity now coming from renewable sources.\n \n · We have put in place extensive monitoring and baselined our carbon reduction target at 470 ktonnes.\n \n · We have innovative trials including low emissions processes currently treating 500,000 litres of water per day while also creating green fertiliser.\n We recently had our plans accredited by the Science Based Targets initiative and are signatories of the Global Race to Zero initiative, which is central to COP26. Today we...