Business Retail Market – Financial resilience monitoring RFI Guidance v2.0

Business Retail Market – Financial resilience monitoring RFI Guidance v2.0

233.56 KB - PDF

Download

Published

6th December, 2023

Kind

Publication

Type

Business Retail Market

Detail

Since the business retail market opened in April 2017, Ofwat has been monitoring the development of the market to inform and support its regulatory approach and to ensure Ofwat is best placed to protect the interests of current and future business customers. To strengthen our understanding of the financial resilience of Retailers in the market, in May 2023 we implemented a monitoring regime that includes us collecting relevant financial information from all Retailers on an ongoing basis. Furthermore, we have taken steps to improve our visibility of the ownership structures of Retailers, the way in which their Boards operate and their governance processes. Collecting information on these topics on a timely and consistent basis has and will continue to improve our understanding of the businesses that operate in the market and the way in which Retailers make decisions. The questions detailed in this RFI will allow us to collect information on these topics across all Retailers in the market. With greater and more consistent visibility at both an individual Retailer and sector level, our monitoring provides better forewarning of potential risks to Retailer financial resilience and customer outcomes, strengthening our ability to take appropriate steps to protect the interests of current and future business customers.