Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSevern Trent Share News (SVT)

Share Price Information for Severn Trent (SVT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,380.00
Bid: 2,385.00
Ask: 2,386.00
Change: -22.00 (-0.92%)
Spread: 1.00 (0.042%)
Open: 2,402.00
High: 2,424.00
Low: 2,379.00
Prev. Close: 2,402.00
SVT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK water companies could face unlimited fines for polluting – Coffey

Sat, 01st Apr 2023 11:43

(Alliance News) - Water companies could face unlimited fines and penalties under new UK government plans to tackle pollution.

Environment Secretary Therese Coffey is expected to announce next week plans that ministers believe will "make polluters pay", with tougher fines levied on water companies put into a "water restoration fund".

It comes as the latest Environment Agency figures showed there were a total of 301,091 sewage spills in 2022 – an average of 824 a day.

Discharges fell by 19% in 2022 – but this was due to dry weather rather than any action taken by water companies, the agency said.

Part of the plan will see Coffey publish a six-week consultation on strengthening the Environment Agency's ability to impose sanctions on water companies without going through the courts.

The government is believed to support a lifting of the upper cap on civil penalties on water companies, allowing unlimited fines.

Defra said the penalties would be quicker and easier to enforce, with the most serious cases still taken through criminal proceedings.

The government has been under serious pressure from campaigners to tackle pollution in recent months, with the new measures expected to form part of plans to toughen enforcement against companies.

Opposition parties have also condemned the government, with Labour leader Keir Starmer telling the Guardian that ministers were "turning Britain's waterways into an open sewer".

The Liberal Democrats have called on Coffey to quit over the issue.

Coffey said: "I know how important our beautiful rivers, lakes, streams and coastlines are for people and nature – and I couldn't agree more that more needs to be done to protect them.

"I want to make sure that regulators have the powers and tools to take tough action against companies that are breaking the rules, and to do so more quickly.

"Through the Water Restoration Fund, I will be making sure that money from higher fines and penalties – taken from water company profits, not customers – is channelled directly back into the rivers, lakes and streams where it is needed.

"We know that around 310 miles of rivers each year have been improved through community-led projects – we must build on that success."

Currently, penalties and fines imposed by Ofwat are returned to the Treasury. But new government plans will see the money instead be returned to the Department for Environment, Food & Rural Affairs.

Campaigners have accused water companies of discharging sewage much more often than they should, including when there has been no rain, and have repeatedly called on water companies to use their profits to invest in more infrastructure.

Defra said that the new fund will be intended to help local groups identify the biggest issues and direct investment to where it is most needed, with the money going to support a range of projects including the restoration of wetlands, the creation of new habitats and adding natural bends to rivers to improve water quality.

London-listed water companies include United Utilities Group PLC, Pennon Group PLC and Severn Trent PLC. United Utilities shares closed up 0.1% at 1,058.96 pence in London on Friday. Pennon rose 0.8% to 876.16p. Severn Trent added 0.3% to 2,877.76p.

By Dominic McGrath, PA

source: PA

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
19 May 2021 08:51

LONDON MARKET OPEN: John Laing jumps on GBP2 billion takeover offer

LONDON MARKET OPEN: John Laing jumps on GBP2 billion takeover offer

Read more
19 May 2021 08:28

LONDON BRIEFING: Severn Trent in GBP250 million raise for green push

LONDON BRIEFING: Severn Trent in GBP250 million raise for green push

Read more
19 May 2021 07:45

Severn Trent raises £250m for green projects

(Sharecast News) - Severn Trent is raising £250m in equity to fund six projects agreed with the regulator to improve water quality and the environment.

Read more
17 May 2021 09:32

Severn Trent, Pennon join GBP850 million water industry green spending

Severn Trent, Pennon join GBP850 million water industry green spending

Read more
17 May 2021 08:52

UK water watchdog plans 2.8 bln pound backing for green projects

May 17 (Reuters) - Britain's water regulator set out a 2.8 billion pound ($3.95 billion) green investment plan on Monday as it aims to lower pollution by utilities, some of which have come under fire for their environmental performance.Watchdog Of...

Read more
12 May 2021 16:06

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
28 Apr 2021 15:30

EXECUTIVE CHANGES: Ex-Coca-Cola exec, Cafe Rouge founder for Deliveroo

EXECUTIVE CHANGES: Ex-Coca-Cola exec, Cafe Rouge founder for Deliveroo

Read more
12 Apr 2021 12:26

LONDON MARKET MIDDAY: Hospitality stocks fall; Darktrace plots IPO

LONDON MARKET MIDDAY: Hospitality stocks fall; Darktrace plots IPO

Read more
24 Mar 2021 09:16

Severn Trent shareholders to get vote on climate change plan

Severn Trent shareholders to get vote on climate change plan

Read more
24 Mar 2021 07:49

LONDON MARKET PRE-OPEN: Halma ups guidance; Bellway resumes dividend

LONDON MARKET PRE-OPEN: Halma ups guidance; Bellway resumes dividend

Read more
19 Mar 2021 18:58

TRADING UPDATES: Court approves Premier Oil and Chrysaor merger

TRADING UPDATES: Court approves Premier Oil and Chrysaor merger

Read more
18 Mar 2021 10:01

Sage taps former Severn Trent Chair Andy Duff to lead own board

Sage taps former Severn Trent Chair Andy Duff to lead own board

Read more
11 Mar 2021 09:40

BROKER RATINGS: BofA, Barclays and Goldman start Dr Martens coverage

BROKER RATINGS: BofA, Barclays and Goldman start Dr Martens coverage

Read more
10 Mar 2021 10:43

Breedon intends to pay maiden dividend in 2021 despite weak 2020

Breedon intends to pay maiden dividend in 2021 despite weak 2020

Read more
10 Mar 2021 09:35

BROKER RATINGS: Liberum upgrades Ferrexpo to Buy from Hold

BROKER RATINGS: Liberum upgrades Ferrexpo to Buy from Hold

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.