The company announced a £15bn plan on Thursday, including more than £2bn to be spent on improving river health and preventing spills from storm overflows.
Severn Trent added that the plan will create 7,000 new jobs in the region.
It said the overall plan represented an investment of more than £3,000 for every household during the next five years.
Liv Garfield, chief executive at Severn Trent, said the investment was “a huge boost” to the region.
She said: “We recognise that any increase can be hard, so to support any customer who needs help with their bill, we’ve launched a new financial support package – supporting around one in six households across our region during the next five years.”