# Severn Trent good start to the year operationally

- Link: https://www.directorstalkinterviews.com/severn-trent-good-start-to-the-year-operationally/4121072672
- Published: 2022-07-14T07:34:22+01:00
- Author: Amilia Stone

[Severn Trent Plc](https://www.directorstalkinterviews.com/ftse-company/severn-trent/svt.l)(
LON:SVT) has announced the following trading update for the period to 13 July 2022.

**Strong start to the third year of AMP7**

·    **Operational Performance** – We have had a good start to the year operationally
and continue to expect at least £50 million in customer ODI outperformance payments
in FY23.  As expected, we are seeing the increase in operating costs, particularly
energy and chemicals, outlined in our technical guidance. 

·     **Environmental Performance** – We are confident we will retain our 4-star
Environmental Performance Assessment rating for 2021 and expect this to be confirmed
by the Environment Agency soon. We also remain on track to meet or exceed target
on 100% of our environment ODIs this year.

·     **Energy Self-generation** – We are benefitting from our decade of investment
in renewable energy generation and generated 145 GWh of energy in the first quarter
of this financial year which equates to over 50% of our consumption. This generation
is 4% higher than the same period in FY22.

·     **Sustainable Financing Framework** – Our updated Sustainable Financing Framework
will be released in July. This framework details our environmental, social, and 
governance performance and ambitions, enabling Severn Trent Plc and its subsidiaries
to raise financing for sustainable investment and expenditure. The report will be
published on our website at www.severntrent.com.

**PR24 draft methodology update**

Ofwat issued its PR24 draft methodology on Thursday 7^(th) July. Severn Trent held
a briefing via webcast on Tuesday 12^(th) July. The webcast and presentation can
be accessed at www.severntrent.com.

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