Water giant Severn Trent is to invest around £2.7 billion over a five-year period - and is asking customers to share their views on its future.

Group chief executive Tony Wray has made a personal appeal to the Midland group’s customers to provide feedback on where the money should be invested for the firm’s next business plan for 2015-2020.

The blueprint will outline the future of Severn Trent’s water and waste water services, affecting the amount customers pay and what kind of service they receive.

Meanwhile, Mr Wray revealed he is to step down as Severn Trent chief executive in spring 2014 after a nine-year stint with the group.

On investment plans, Mr Wray said: “Our current total investment over the five-year period to the end of 2014-15 is £2.7 billion.

“For April 2015 to 2020 it would be at least a further £2.7 billion and then we need to look at whether there should be more, or should customers accept the risks of a lower investment?

“We are asking for consultation on the way money is being spent, water quality etc. Our customers are currently getting the lowest combined water and waste charges anywhere in the UK, and we are very proud of that fact.

“We are huge drivers of the local economy, we are spending £1.3 million every day in the regional economy around Birmingham.

“We have got a lot of choices and decisions to make about the money we invest and where we invest, and all that affects our customers’ billing.

“We cover about 3.5 million households, and well in advance of eight million customers. We have spoken to 7,000 individual customers already.

“What we do affects everybody every day, every time you turn on a tap or flush a toilet. It is all done at less than a quid a day.

“We want to hear from our customers about how they want to see their money being spent.

“Customers can visit our website or come along to one of the events we are holding across our region throughout April and May.”

Mr Wray told the Post Severn Trent was currently investing £1.3 million delivering clean water through 54,000 kilometres of water pipes, removing waste, treating it and returning it to the environment.

“That’s a huge undertaking and now we have to start thinking about how we invest money in our next business plan, whether that’s reducing leakage, improving water quality or preventing sewer flooding.”

Latest accounts for Severn Trent saw profits rise to £157.5 million in the six months to September 2012. It enjoyed a 3.6 per cent uplift in turnover to £917.7 million, thanks to a 5.2 per cent allowed price increase.