Severn Trent to invest £190m into renewable energy

Severn Trent to invest £190m into renewable energy

 

In an effort to become more energy self-sufficient, Severn Trent is investing £190m in renewable energy generation in the next five years, spending the money on solar and anaerobic digestion power plants.

 

The investment is expected to help the company produce 50% of its gross energy consumption from renewable sources by the end of the decade – up from 28% currently.

 

The strategy will reduce costs and be “a natural hedge to price rises.” A new operating model will be implemented which will include merging water and wastewater activities into one wholesale operation and engineering function. This will result in a loss of 500 jobs across management and support functions.

 

The company will also undergo corporate restructuring in order to meet an efficiency target which has been enforced by Britain’s water regulator. To help meet this target, the company also plans to cut costs to the tune of £200m over the next five years via the renegotiation of supplier contracts.

 

The benefit of this to the customer will be a reduction in the average annual water bill, from £333 to £329, “by which time they will be £60 below the industry average.”

 

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Crossrail Elizabeth line to open on 24 May 2022

Crossrail Elizabeth line to open on 24 May 2022

The Elizabeth line will transform travel across London and the South East by dramatically improving transport links, cutting journey times, providing additional capacity, and transforming accessibility with spacious new stations and walk-through trains. The Elizabeth line will initially operate as

HS2 site acquisition paves way for Manchester high speed station

HS2 site acquisition paves way for Manchester high speed station

HS2 Ltd has reached an agreement with Bruntwood, one of the UK’s leading property providers, to purchase Square One on Travis Street in readiness for construction of Manchester’s brand new high speed railway station.   The sale marks HS2’s second major property acquisition

Amey Utilities purchase completed and now renamed Avove

Amey Utilities purchase completed and now renamed Avove

Private equity investor Rubicon Partners has completed the purchase of Amey Utilities and renamed the operation Avove.   The deal completed for the water and power maintenance services contractor which counts Yorkshire Water and Severn Trent among its main clients.   Avove will retain

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.