Water bills set to top £500 as company raises £1bn to fix leaks and stop sewage

📆 30/09/2023 00:30:00
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Severn Trent has said it plans to spend £12.9bn in supporting and strengthening its network over the next five years

David ConnettWater company Severn Trent is raising £1bn by issuing new shares to bolster its plans to reduce leaks andThe company, which supplies water and sewage services to millions of households across the Midlands and Wales, said the move was to maintain its financial resilience.

It said it plans to spend £12.9bn in supporting and strengthening its network over the next five years.Severn Trent said it recognised that the announcement “comes at a difficult time for some customers”. “That is why we have included a £550m financial support package as a core part of the plan. This willThe move comes as water firms face increasing scrutiny and mounting anger from customers and environmentalists for

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