Severn Trent has received the green light for its transformational £15bn investment programme to improve service for customers, dramatically boosting river health and creating 7,000 new jobs for the region.
Water industry regulator Ofwat has given its support for the sector-leading plans for the region over the next five years, calling the proposals ‘Outstanding’.
The announcement paves the way for Severn Trent to deliver on its ambitious plans, which include improving infrastructure, while keeping bills affordable and supporting local communities. Severn Trent has already started delivering these plans, after raising an additional £1bn from its investors last year.
Liv Garfield, Chief Executive, Severn Trent said: “This is a huge boost for the region with £15 billion of new investment across the Midlands in what matters most to our customers – secure water supplies, cleaner rivers, and affordable bills – while creating thousands of new jobs to strengthen the region’s future.
“We’re proud that Ofwat has recognised our ‘Outstanding’ plans as being ambitious. It’s a plan to bring growth and positive change, built on strong foundations given Severn Trent is the sector-leader for environmental performance and financial resilience – with a proven track record for delivering successful large-scale investment projects.
“And whilst it’s great to get the green light for these ambitious plans, we haven’t been waiting, and 2024 has seen our biggest year of investment in river health. We’ve delivered over one thousand improvements to cut spills from storm overflows this year alone, and we’re totally committed to going further and faster to deliver for our customers.”
Severn Trent’s plan is a major win for the region’s economy, with an expected 7,000 new jobs. Roles will be recruited at Severn Trent and in its supply chain that will also support new apprenticeships and skills programmes during the next five years.
Severn Trent is recruiting for 440 new jobs right now to be part of a £420 million project to install 865 miles of new water pipes to provide an even more reliable service for customers and businesses.
