Severn Trent is 'summer ready' with reservoirs 77 per cent full

Utilities company Severn Trent told shareholders yesterday (Wednesday) that it was "well positioned" for summer demand with reservoir supplies at 77 per cent on average - 10 per cent higher than the same period last year.

The firm also told investors it had been awarded the highest possible 4-star Environmental Performance Assessment status by the Environment Agency for 2022, becoming the first company to maintain this position for four consecutive years.

Read more: All women lineup in top jobs at Severn Trent when current CFO retires

This follows higher-than-average rainfall in most of June and so far in July.

The firm has launched its £100 million Get River Positive programme that its operations will not be the reason for any stretch of river in its region to be classified as unhealthy by 2030.

It also aims to deliver the world's first carbon-neutral waste water treatment works in 2024.

Investors were told financial performance remains on track, and it said it aimed to invest between £850 million and £1 billion this year in capital projects.

CEO Liv Garfield (pictured) said: "We're pleased to have made a good start to the year, as we continue to focus on delivering the operational, environmental and financial performance our stakeholders expect of us.

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"We recognise that there is more we can do and we are committed to going further, faster, to deliver the best possible outcomes for our customers and the environment.

"The business is well placed to deliver the progress needed with a highly engaged workforce, sustained operational leadership and a strong balance sheet, supporting future investment."

The Coventry-based firm supplies water to households and businesses in the Midlands, parts of Gloucestershire, and parts of Wales.