Company News
Severn Trent has today announced its intention to conduct a non-pre-emptive placing through the issue of new ordinary shares, Retail Offer shares and Subscription Shares to raise approximately £250 million following Ofwat's decision to endorse an award to Severn Trent of £565 million (2017/18 prices) for its Green Recovery proposals.
South West Water has welcomed the key draft decision on its Green Recovery Initiative by the regulator Ofwat.
Severn Trent has welcomed Ofwat's announcement this morning that it has received regulatory endorsement to invest £565 million (2017/18 prices) in an ambitious Green Recovery programme to support the UK's green economic bounceback and create 2,500 new jobs in the Midlands.
Ofwat’s draft decisions published today on green recovery proposals submitted by five water companies will allow them to invest an extra £862 million, on top of their existing five-year PR19 2020-25 investment packages.
Irish Water is continuing to progress works on the Arklow Wastewater Treatment Plant project, estimated to cost in the region of €30 million, which will see the end of the discharge of raw sewage directly into the Avoca River.
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Expert Focus
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Thames Water starts work on £20 million pipe upgrade in Islington February 13, 2024
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