Severn Trent PLC (LSE:SVT) said there have been no material changes to its current year business performance or outlook since the interim results announcement on 22 November 2022, and the company's guidance for full-year 2022/23 remains unchanged.
In a trading update for the period ending 8 February 2023, the FTSE 100-listed utility company also announced that its Severn Trent Green Power has acquired Andigestion Ltd, which operates two food waste anaerobic digestion plants in Devon and Gloucestershire.
The acquisition will bring an additional 45 GWh per annum of energy generation, increasing Green Power's output by 16% and will further enhance its energy generation capacity and resilience.
Severn Trent noted that it self-generates over 50% of its energy consumption, resulting in a natural economic hedge that significantly reduces the impact of higher power prices on shareholder returns. The company said it has locked in prices for its remaining exposure for full-year 2023/24.
Severn Trent also pointed out that it has once again been recognized by Ofwat as the only water and sewerage company in the leading category for both performance and financial resilience.
The company said it is "proud to have continued to deliver a strong service for our customers despite the driest summer on record and a challenging winter." It added that it is confident of achieving 4-star status in the Environment Agency's 2022 Environmental Performance Assessment for the fourth consecutive year.
The company said its full-year results presentation will be on 24 May 2023.