£30m package from Severn Trent to support customers in water poverty
Severn Trent has launched a £30m financial support package to help 100,000 more customers who are struggling with the cost of living crisis.
The water company supplies eight million customers across from the Midlands and the South-West.
It says it has already supported 215,000 customers with their water bill through a tariff, that allows them to reduce their bill by up to 90%.
The new funding will result in Severn Trent supporting 315,000 customers by 2025, which equates to 6% of its customers. This figures represents how many customers are thought to be living in water poverty in the region.
Liv Garfield, the chief executive said: “As cost of living pressures continue, we’re acting now to support people struggling to pay their bills.
“Our customers have the second-lowest combined bill in the UK at around £1 per day but we know that for some, paying their bill is a challenge.”
The announcement was included in the company’s latest financial results, revealing that turnover was up 6.4% to £1.94bn for the group.
The FTSE 100-listed company also increased its shareholder dividend in line with inflation.