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

Caledonia Water bags infrastructure contract with Scottish Water

Caledonia Water bags infrastructure contract with Scottish Water

Caledonia Water Alliance – a Morrison Utility Services and AECOM joint venture – has landed a six-year extension on its water infrastructure contract with Scottish Water Following confirmation of the new agreements, from 2021-2027 Caledonia Water Alliance (CWA)

Skanska bags £135m revamp of Canary Wharf’s first office

Skanska bags £135m revamp of Canary Wharf’s first office

Skanska has won the contract to deliver the main structural revamp of Canary Wharf’s first major office at 30 South Colonnade in London Docklands.The major office deal is its second to be signed off this week after confirming an £83m contract with Royal London Asset Management to build

MWH Treatment secures key role on Scottish Water framework

MWH Treatment secures key role on Scottish Water framework

MWH Treatment (MWHT), together with partner Galliford Try, has successfully secured a six-year contract extension on Scottish Water's non-infrastructure framework for the Strategic Review 2021-27 (SR21) investment programme. MWHT, a sector leading solution provider operating across the UK water

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.