Severn Trent PLC Severn Trent Water Draft Determination for AMP7 (9506V)
11 Aprile 2019 - 4:17PM
UK Regulatory
TIDMSVT
RNS Number : 9506V
Severn Trent PLC
11 April 2019
11 April 2019
Severn Trent Water receives Draft Determination for AMP7
Severn Trent Water Draft Determination
This morning we are pleased to have received our Draft
Determination from Ofwat which confirmed our fast-track status for
the business plan period 2020 to 2025.
The highlights of our plan include:
-- Our commitment to becoming the most socially purposeful company in the sector;
-- A bill reduction of c.5%, providing our customers the lowest
bills in England for another five years;
-- A broad set of performance commitments that will deliver more
for our customers and the environment;
-- Investment of GBP6.4 billion across the period contributing to real RCV growth of 3.4%;
-- Approval of GBP156 million of additional investment through
our innovative real options mechanism.
We will respond to Ofwat by 24 May 2019 and look forward to
continued constructive dialogue until the Final Determination on 11
December 2019.
Updated data tables have been made available on our website.
See:
www.stwater.co.uk/regulatory-library/2020-2025-submission-documents/
Hafren Dyfrdwy
Our Welsh business, Hafren Dyfrdwy, submitted its updated
business plan on 29 March 2019 and we look forward to receiving its
Draft Determination on 18 July 2019.
World Water Innovation Fund
Earlier this week we were proud to launch the World Water
Innovation Fund, bringing together the most forward thinking
companies from across the UK, Australia and Americas, leveraging
innovation to make a difference to the way we manage our precious
water resources for generations to come.
Read more at www.waterinnovationfund.com.
Enquiries
Investors & Analysts
Richard Eadie Severn Trent Plc +44 (0) 7889 806578
Head of Investor Relations
Rachel Martin Severn Trent Plc +44 (0) 7824 624011
Investor Relations Manager
Media
Press Office Severn Trent Plc +44 (0) 247 771 5640
Jonathan Sibun Tulchan +44 (0) 207 353 4200
Cautionary statement regarding forward-looking statements
This document contains statements that are, or may be deemed to
be, 'forward-looking statements' with respect to Severn Trent's
financial condition, results of operations and business and certain
of Severn Trent's plans and objectives with respect to these
items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'projects',
'potential', 'reasonably possible', 'targets', 'goal', 'estimates'
or words with a similar meaning, and, in each case, their negative
or other variations or comparable terminology. Any forward-looking
statements in this document are based on Severn Trent's current
expectations and, by their very nature, forward-looking statements
are inherently unpredictable, speculative and involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance and no assurances can be given that the forward-looking
statements in this document will be realised. There are a number of
factors, many of which are beyond Severn Trent's control that could
cause actual results, performance and developments to differ
materially from those expressed or implied by these forward-looking
statements. These factors include, but are not limited to: the
Principal Risks disclosed in our latest Annual Report and Accounts
(which have not been updated since the date of its publication);
changes in the economies and markets in which the group operates;
changes in the regulatory and competition frameworks in which the
group operates; the impact of legal or other proceedings against or
which affect the group; and changes in interest and exchange
rates.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to Severn
Trent or any other member of the group or persons acting on their
behalf are expressly qualified in their entirety by the factors
referred to above. No assurances can be given that the
forward-looking statements in this document will be realised. This
document speaks as at the date of publication. Save as required by
applicable laws and regulations, Severn Trent does not intend to
update any forward-looking statements and does not undertake any
obligation to do so. Past performance of securities of Severn Trent
Plc cannot be relied upon as a guide to the future performance of
securities of Severn Trent Plc.
Nothing in this document should be regarded as a profits
forecast.
This document is not an offer to sell, exchange or transfer any
securities of Severn Trent Plc or any of its subsidiaries and is
not soliciting an offer to purchase, exchange or transfer such
securities in any jurisdiction. Securities may not be offered, sold
or transferred in the United States absent registration or an
applicable exemption from the registration requirements of the US
Securities Act of 1933 (as amended).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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