In a trading update for the period from 1 October 2019 to 6 February 2019, the FTSE 100-listed water and wastewater company said there have been no material changes to current year business performance or outlook since it reported its interim results on 22 November 2018.
The firm said its capital programme is progressing well and it is on track to deliver its biggest capital spending in a decade, while its re-investment programme from part of the £870m Totex efficiencies is continuing at pace.
Severn Trent added that its guidance of a net neutral position for full-year 2018/19 from regulator Ofwat's decision to increase the cap on wastewater customer ODIs (outcome delivery incentives) from 2% to 2.6% of RoRE (return on regulatory equity), from 1 January 2019. remains unchanged.
The group also said that, following Ofwat's announcement last week, it is delighted to have been selected as one of only three fast-track companies for its 2019 price review plan.
It added: “We welcome the clarity this early assessment provides to help us plan for a fast start in April 2020.”