BIRMINGHAM (dpa-AFX) - U.K.-headquartered utilities business Severn Trent Plc (SVT) on Wednesday said that the company's guidance for fiscal 2023 remains unchanged.
The company said it self-generates the equivalent of over 50% of its energy consumption, resulting in a natural economic hedge which would significantly reduce the impact of higher power prices.
The company said that over the last six months it has locked in prices for its remaining exposure for fiscal 2024.
Severn Trent also announced Severn Trent Green Power's acquisition of Andigestion Ltd, which operates two food waste anaerobic digestion plants in Devon and Gloucestershire. This is expected to bring an additional 45 GWh per annum of energy generation, increasing Green Power's output by 16%.
It hopes to achieve, for the fourth consecutive year, 4-star status in the Environment Agency's 2022 Environmental Performance Assessment.
Shares of Severn Trent closed Tuesday's trading at 2853 pence, up 12 pence or 0.42 percent from the previous close.
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