Water firm tells investors it is on track to claim reward for exceeding its own customer service targets

Severn Trent may soon be able to charge almost 5 million customers an extra £60m in total on their water bills as a reward for exceeding its own customer service targets.

The water firm, which is listed on the FTSE 100, told investors on Wednesday that it was on track to get the multimillion-pound award this year through the water regulator’s incentive plan.