Business
Severn Trent Water Draft Determination for AMP7
Severn Trent Water Draft Determination for AMP7.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \nRNS Number : 9506V Severn Trent PLC 11 April 2019 \n\n11 April 2019\n \n \n \nSevern Trent Water receives Draft Determination for AMP7\n \nSevern Trent Water Draft Determination\nThis morning we are pleased to have received our Draft Determination from Ofwat which confirmed our fast-track status for the business plan period 2020 to 2025. \nThe highlights of our plan include:\n· Our commitment to becoming the most socially purposeful company in the sector;\n· A bill reduction of c.5%, providing our customers the lowest bills in England for another five years;\n· A broad set of performance commitments that will deliver more for our customers and the environment;\n· Investment of £6.4 billion across the period contributing to real RCV growth of 3.4%;\n· Approval of £156 million of additional investment through our innovative real options mechanism.\nWe will respond to Ofwat by 24 May 2019 and look forward to continued constructive dialogue until the Final Determination on 11 December 2019.\nUpdated data tables have been made available on our website. See: www.stwater.co.uk/regulatory-library/2020-2025-submission-documents/ \nHafren Dyfrdwy\nOur Welsh business, Hafren Dyfrdwy, submitted its updated business plan on 29 March 2019 and we look forward to receiving its Draft Determination on 18 July 2019.\nWorld Water Innovation Fund\nEarlier this week we were proud to launch the World Water Innovation Fund, bringing together the most forward thinking companies from across the UK, Australia and Americas, leveraging innovation to make a difference to the way we manage our precious water resources for generations to come. \nRead more at www.waterinnovationfund.com. \n\n\n\n \nEnquiries\n\n\n\n\n\n\n\n\n\n\nInvestors & Analysts\n\n\n\n\n\n\n\n\n\n\nRichard Eadie\n\n\nSevern Trent Plc\n\n\n+44 (0) 7889 806578\n\n\n\n\nHead of Investor Relations\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRachel Martin\n\n\nSevern Trent Plc\n\n\n+44 (0) 7824 624011\n\n\n\n\nInvestor Relations Manager\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMedia...