Severn Trent said the plan would also help it to reduce leakage by 16% and prompt a 30% reduction in spills from storm overflows, putting the firm on track to deliver the government’s 2050 industry targets five years early.
Across England during 2022, raw sewage was dumped into rivers and seas 825 times a day on average.
In July, campaigners left a bucket of fake sewage outside Severn Trent’s headquarters in Coventry as part of a protest against pollution and leaks.
The company said it had significantly reduced sewage spillages but accepted “as a sector, we recognise that we should have given sewage activations much more attention and acted faster..”
The new business plan is set to be submitted to regulator Ofwat on Monday.
Ms Garfield said: “At the heart of this ambition is a commitment to a sustainable future – from healthier rivers, to providing thousands of jobs, fewer leaks and a water supply ready for the impacts of climate change and population growth.
“At the same time, our £550m affordability scheme aims to ensure no customer in our region needs to worry about affording their water bill.”
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