17th Mar 2015 07:34
LONDON (Alliance News) - Severn Trent PLC Tuesday said it has already locked-in GBP200 million of the savings it has to make over the next five years, and has also made a GBP190 million investment in renewable energy to help power its operations.
The company recently agreed with the UK water regulator Ofwat that it will make GBP372 million of efficiency savings between 2015 and 2020, and said Tuesday that it has already locked-in GBP100 million of savings by renegotiating supplier contracts, and GBP100 million from the structural organisation it announced last month.
It also said it will make a GBP190 million total investment over the five years in anaerobic digestion and solar technology.
"This will take self generation of renewable energy from 28% of Severn Trent Water's gross energy consumption to around 50% by 2020. This will provide efficient green energy and a long-term hedge against volatile market prices," it said.
By Steve McGrath; [email protected]; @stevemcgrath1
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