From April 2017, over 1.2 million eligible businesses and other non-household customers in England will be able to choose their supplier of water and wastewater retail services.
The introduction of competition aims to drive down prices, improve water efficiency, encourage innovation and improve customer service. A competitive water market is also expected to deliver over £200m of benefit to the UK economy and bring significant environmental benefits too.
Understanding how the market is functioning will be essential to our approach to monitoring this new market. ‘Monitoring the business retail market from April 2017: a consultation’ sets out how we are developing a strong market monitoring regime supported by a comprehensive understanding of the tools and options we have should we wish to intervene.
Our framework will ensure that we:
- understand whether the market is working well
- can intervene in an appropriate way should it not be the case.
We also discuss how we plan to make information about the market more widely available so that customers and others can have confidence in how the market it is working.
Our infographic below summarises how we will monitor this new market. We have also published a video explaining it in more detail. You can view this below or on our YouTube channel.
We held a Twitter hour on 30 January – you can see the highlights here. Our consultation closes on 10 February 2017.