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Severn Trent: Ofwat Proposes To Increase Customer ODI Cap - Quick Facts

Severn Trent plc (SVT.L) reported that Ofwat has published the 'Final Determination of in-period ODIs for 2018' which outlines their proposal to amend Severn Trent Water's waste water Customer Outcome Delivery Incentives (ODIs) for the remainder of AMP6. Under the proposal, the cap on waste water customer ODIs will be increased from 2% to 2.6% of RoRE, based on performance from 1 January 2019. The incentive rate for external sewer flooding will be reduced to GBP 2,967 per incident from 1 January 2019.

The Group said the prospective changes will have a limited impact on its customer ODIs in the remainder of fiscal 2018/19 and it continues to guide to a net neutral customer ODI position for full year. The Group noted that it will now have the opportunity to receive further outperformance payments in fiscal 2019/20 for some of its longer term customer ODIs.

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