Severn Trent has received the green light for a transformational £720m investment programme in Nottinghamshire to improve services for customers, boost water supplies, enhance river health, and create 7,000 new jobs across the region.
Water industry regulator Ofwat yesterday gave its support for the company to invest some £15 billion in sector-leading plans for the region over the next five years, calling the proposals ‘outstanding’.
Benefits for customers in Nottinghamshire include:
· £1.7 billion to reduce spills at storm overflows across the Severn Trent region, including around £175m in Nottinghamshire
· £120m being invested in projects to improve water supplies and resilience
· £49m to deliver 71 miles of new pipes, creating 49 new jobs
Ofwat’s announcement means the company can start its multi-billion-pound investment, which will secure the region’s water supply, improve river health, and keep customer bills low and affordable.
The transformational investment across the region includes:
· Severn Trent customers having the second-lowest bills in England
· One in six households will be able to access help with their bills, with a £575m affordability package supporting up to 700,000 customers
· £15bn being invested in infrastructure across the region
· A boost to the regional economy through record investment and approximately 7,000 new jobs at Severn Trent and in its supply chain
James Jesic, Severn Trent’s Commercial Director and customer lead for Nottinghamshire, welcomed Ofwat’s decision and said: “This is great news for Severn Trent customers in Nottinghamshire and across the region.
“We can now continue with the next phase of our wide-ranging and ambitious plans to benefit our customers, our communities, and the environment for generations to come.
“We plan to deliver far-reaching benefits for the environment, and this year has already seen huge progress made on reducing spills. We’ve implemented 130 solutions across Nottinghamshire storm overflows this year alone, following an extra £1bn investment from our investors.”
Creating jobs and opportunities
Severn Trent’s plan is a major win for the region’s economy, with an expected 7,000 new jobs being created. Roles will be recruited at Severn Trent and in its supply chain, which will also support new apprenticeships and skills programmes over the next five years.
What’s more, Severn Trent is recruiting for 49 new jobs in Nottinghamshire right now as part of a £49m project to install 71 miles of new water pipes in the county to provide an even more reliable service for customers and businesses. The project will help reduce leaks, save water, and ensure fewer supply interruptions.
Affordable bills and financial support
Severn Trent’s bills will remain the second-lowest in England while delivering record investment and sector-leading performance. The £15bn investment represents an investment of £3,000 for every household in Nottinghamshire over the next five years. Some 70,000 customers helped shape the five-year plan, which achieved the highest acceptance rate in the sector.
Severn Trent has also unveiled one of the water industry’s most comprehensive affordability packages, providing financial assistance to around one in six households, or approximately 700,000 people.
James said:
“Keeping bills among the lowest in England was a key element of our plans.
“But we know any rise in bills can be hard for people, so we have launched a new financial support package to support around one in six households across our region. We have multiple affordability schemes available to ensure anyone who needs help with their bill can get it.”
Improving rivers
Severn Trent is investing more and progressing faster than any other water company to improve river health. This year alone, 130 solutions for storm overflows have been delivered across Nottinghamshire.
James said:
“Improving our rivers is a collective effort, so we continue to work very closely with our river users and communities.
“We now have an approved investment plan with a clear ambition of reducing our responsibility for rivers not achieving good ecological status to less than 2% by 2030.
“We believe this goal is fully achievable, given Severn Trent is the sector leader for environmental performance and financial resilience.”
Investing in communities
Since launching in 2020, Severn Trent’s community fund has awarded around £1.3 million to more than 120 organisations in Nottinghamshire. This new investment will continue to secure funding for local charities across the area, with a share of a new £10m Community Fund.
Ofwat’s support for Severn Trent’s plans means it can help 100,000 people with skills and employability training to tackle the underlying causes of water poverty.
