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Severn Trent looks to raise £1bn for modernisation
Evening Standard
|September 29, 2023
The scale of the vast costs of modernising the UK’s water industry were in the spotlight today, when Severn Trent revealed a £1 billion share sale to help pay for its upgrade.
The capital raising came alongside plans from the FTSE 100 utility giant for spending of almost £13 billion for the next phase of its business plan.
Much of the spending will focus on cutting the overspills of raw sewage and the mass leaks of fresh water from supply pipes that have left the water industry reeling from a wave of public anger.
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