Severn Trent to pay smaller suppliers £38m early to help them through crisis
Water company Severn Trent has arranged for £38 million to be paid to its smaller suppliers early to help support them through the Covid-19 crisis.
The company, which serves millions of customers across the Midlands and Mid Wales, has arranged for immediate payment to be made to small- and medium-sized companies for at least the next three months to help them through the current difficult economic conditions.
Helen Miles, chief commercial officer at Severn Trent, said: “We know how hard it is for the smaller companies we work with at the moment which is why we wanted to do what we could to help them.
“We’ve got more payments lined up and we’re carrying on placing orders because we’re still working hard to make sure our four million customers, hospitals and care homes have the water services they need in this difficult time.
“It’s really important to us we do the right thing for our colleagues, our customers and our communities, and this is just one of a number of commitments we’ve made to achieve that.”
As well as paying its suppliers early, Severn Trent has created a £1 million emergency fund for charities and local groups helping its communities through the crisis, having already paid out half of that to almost 200 organisations.
It has also committed to not furloughing or laying off any Severn Trent colleagues as a result of Covid-19.
Meanwhile, Severn Trent will soon be going out to tender with a major contract for its Water Infrastructure Network services.
