Severn Trent: has said that PR19 looks set to be a challenging review with the publication this morning of its latest trading update for the period to 19 July 2017.
The Group has made a good start towards delivering its target net reward for 2017/18 customer ODI1 outperformance of around £23 million, according to the update. Severn Trent said it is also continuing to work towards delivering totex efficiencies of £770m in AMP6.
The utility is also making progress on its business plan for AMP74, which will be submitted to Ofwat in September 2018.
Commenting on Ofwat's recently published draft methodology consultation for PR19, the statement says:
"As expected, PR19 looks set to be a challenging review. However, we are encouraged by the opportunities of higher financial returns for ambitious and innovative companies."
Severn Trent said that following the successful acquisition of Dee Valley in February 2017, integration of the business is progressing well.
On its Water Plus joint venture, Severn Trent said the jv hd "strongly positioned itself in the new market", including winning a number of large multi-site customers such as Kwik-Fit and David Lloyd Leisure.
At the start of this month the company separately announced the sale of its North American business.
As a result of the reclassification of the North American business to discontinued operations, Severn Trent is now expecting growth in both revenue and profit before interest and tax in the Business Service segment, on a like-for-like basis.
The trading update says the Board continues to expect that the Group will deliver full-year trading performance in-line with its expectations and prior guidance.
Severn Trent Plc will announce its half-year 2017/18 results for the period ending 30 September 2017 on 23 November 2017.
Barhale has completed work on two separate Rapid Action Taskforce Spills projects it is carrying out for Severn Trent.
Börger UK, which has firmly established itself as a leading pump brand since it was set up in Staffordshire in 2004, has moved into bigger, brand-new premises in Shrewsbury.
HUBER Technology UK & Ireland are inviting people to register for their March webinar where they will be providing information about HUBER water intake screens for municipal and industrial applications.
Sulzer has launched a new global Center of Excellence (CoE) for Water Treatment Solutions - the CoE consolidates Sulzer’s wastewater treatment expertise in a unified and global manner.
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest.
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.