United Utilities, Severn Trent awarded top Environment Agency ratings

(Sharecast News) - Listed water companies United Utilities Group and Severn Trent both received top ratings in the Environment Agency's 2023 environmental performance assessment (EPA) on Tuesday, with each company achieving four-star status. United Utilities Water (UUW) said it was "one of only three" companies to secure the maximum four stars in the latest EPA.

"We are pleased to have been awarded four stars for 2023, and for achieving 'Green' status on serious pollution incidents for 12 consecutive years," said chief executive officer Lou Beardmore.

"As targets for these top ratings continue to get tougher, we continue to respond, driving further improvements for the environment and all our stakeholders."

Meanwhile, Severn Trent Water said it had attained the four-star rating for the fifth consecutive year.

"We remain on track to deliver the most ambitious storm overflow improvement plan in the sector, with our teams delivering interventions daily to improve 900 storm overflows this year alone," the company said in its statement.

"The work we have completed so far gives us confidence that we will be able to halve our spill rate by 2030."

At 0835 BST, shares in United Utilities Group were down 1.03% at 1,006.5p, while those in Severn Trent were off 1.03% at 2,489p.

Reporting by Josh White for Sharecast.com.