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

Suttons Tankers wins Yorkshire Water £60m AMP7/8 contract

Suttons Tankers wins Yorkshire Water £60m AMP7/8 contract

The bioresources sludge removal and transport services deal will cover the transportation for all internal liquid sludge and raw sludge cake from sewage works to sludge treatment centres. Over the course of the contract a 15% carbon savings has been forecast, which forms part of Yorkshire

Thames Water invests £55.7m to upgrade Guildford network

Thames Water invests £55.7m to upgrade Guildford network

The announcement comes during the ongoing £1.8m upgrade of Netley Mill water treatment works, which supplies 8,500 properties in Cranleigh and the surrounding villages via Hurtwood, Alderbrook and Lambswood reservoirs. The work will increase the resilience of the site and reduced the risk of

Govt & Ofwat call on water companies to accelerate AMP7/8 plans

Govt & Ofwat call on water companies to accelerate AMP7/8 plans

In an joint letter to UK water companies, the Government, the Environment Agency, the Drinking Water Inspectorate, Ofwat and CCW have called on them to accelerate their existing AMP7 plans – and consider bringing future investment from 2025 and beyond forward.The letter says they can play

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.