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

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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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