SEVERN TRENT is pushing for an increase in water bills between now and 2023 despite tripling its profit so far this year.

The company recorded a profit of £141.4 million between March and September 2024, with shareholders receiving a 4.2 per cent increase in the interim dividends to 48.68p per share.

At the same time, it has also asked Ofwat to let it raise the average consumer water bill by 46 per cent over the next five years versus current levels.

The watchdog is set to make a final verdict on bill increases across the sector in December.

A spokesperson for Severn Trent Water said: "Severn Trent customers have the second lowest bill in the country but we don't want anyone to struggle or worry when it comes to paying their water bill.

"We are already supporting thousands of customers through initiatives like the Big Difference Scheme and are set to double the number of eligible customers we are helping to around 700,000 by 2030."

The utility company expects fail the compliance risk index, a metric which indicates whether firms are treating water in line with regulations, due to to a treatment works in Strensham, Worcester, where it said it has introduced a new disinfection scheme.

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Earlier this year, Severn Trent was fined over £2 million for a incident in Staffordshire that the Environment Agency said was "fortunate not to have caused "catastrophic pollution."

The Spokesperson said: "We are delivering for customers, hitting our targets on leakage and blockages while also achieving the highest four star status from the Environment Agency in each of the last five years.

"We have continued to lead the industry on sustainability, pioneering carbon neutral technology and progressing our Green Recovery programme at pace, while committing to support 100,000 people out of poverty by 2033.

On Wednesday (November 20), Severn Trent Water announced that it will be spending £63 million and creating 49 jobs to provide 155 miles of new water mains across Worcestershire and Gloucestershire.

Severn expects the new pipes to last for up to 100 years, and that they would contribute to its own target of reducing leaks by 16 per cent to 2030 and by 50 per cent to 2045.

The spokesperson added: "This will help to cut down on supply interruptions and ensure the network is ready to meet the needs of our customers both now and into the future."

However, neither Severn’s investment programme for this year, nor its plan to recruit people to lay more pipes, are contingent on the 46 per cent bill increase being approved.