Severn Trent (SVT)

Sector:

Utilities

Index:

FTSE 100

 2,565.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 2,728.00p
  • 52 Week Low: 2,265.00p
  • Currency: UK Pounds
  • Shares Issued: 299.87m
  • Volume: 0
  • Market Cap: £7,692m
  • RiskGrade: 109

Ofwat set to refuse water companies' price increases; shares hit

By Michele Maatouk

Date: Tuesday 28 May 2024

LONDON (ShareCast) - (Sharecast News) - UK water companies were under pressure on Tuesday following a report that Ofwat was set to refuse most companies' requests to hike consumer bills, with some getting as little as half of what they have asked for.
According to the Guardian, the decision from the water watchdog for England and Wales has been formally delayed until 11 July because of the general election. Its verdict, known as a draft determination, comes amid a growing crisis in the water sector.

Britain's biggest water monopoly company, Thames Water is facing nationalisation unless it can attract vast quantities of fresh capital. It has requested bill rises of 59% - after accounting for inflation - from the regulator.

The Guardian said these figures have been rejected by Ofwat based on the latest iteration of Thames's business and turnaround plans.

Sources said the documents were described as a "microwave job". They include "fag-packet figures" and reflect a board whose members appear determined to "sit on a deckchair on the Titanic", the sources told the Guardian.

Southern Water has requested the highest increase in bills among the utility companies of 91% to £915 a year, while Wessex Water has requested a 50% increase to £822 a year. Thames Water's is the second highest request for an increase in percentage terms, at 59% to £749, according to figures from the Consumer Council for Water.

An Ofwat spokesperson told the Guardian: "Thames Water is a business with a regulatory capital value of £19bn, £2.4bn of liquidity available, annual regulated revenue of £2bn and a new leadership team. They must continue to pursue all options to seek further equity. Safeguards are in place to ensure that services to customers are protected, regardless of issues faced by the shareholders."

At 1450 BST, shares in Severn Trent and United Utilities were down 2.5%, while Pennon was 2.9% lower.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Severn Trent Market Data

Currency UK Pounds
Share Price 2,565.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 2,728.00p
52 Week Low 2,265.00p
Volume 0
Shares Issued 299.87m
Market Cap £7,692m
RiskGrade 109

Severn Trent Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.64% below the market average87.64% below the market average87.64% below the market average87.64% below the market average87.64% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
4.58% above the market average4.58% above the market average4.58% above the market average4.58% above the market average4.58% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Income
2.66% below the market average2.66% below the market average2.66% below the market average2.66% below the market average2.66% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Growth
37.75% below the market average37.75% below the market average37.75% below the market average37.75% below the market average37.75% below the market average
Sector averageSector averageSector averageSector averageSector average

What The Brokers Say

Strong Buy 3
Buy 3
Neutral 1
Sell 3
Strong Sell 2
Total 12
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Severn Trent Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 30-Nov-23
Paid 17-Jul-24 10-Jan-24
Amount 70.10p 46.74p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Severn Trent Key Personnel

CEO Olivia (Liv) Garfield
Chair Christine Mary Hodgson
CFO Helen Miles

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