To ensure a level playing field when the business water market opens in England next year, Ofwat wants water suppliers to publish their indicative wholesale access charges for 2017/18 by October 2016.
Ofwat, the water market regulator, has set out the information that companies will need to include ahead of an open water retail market. This impacts water and/or sewerage undertakers, whose areas are wholly or mainly in England.
The aim of the October deadline is to give water companies enough time to develop their commercial water pricing proposals before that start of the charging year. Ofwat has said this also gives the opportunity for any changes to be reflected in central systems handled by the market operator.
Additionally, Ofwat expects large water companies to notify stakeholders in July 2016 if they anticipate significant changes to their charging structures, and to detail what those changes may be.
One year to an open water market
The business water market in England will open on 1 April 2017, enabling 1.2 million businesses and other non-household customers to choose their supplier of water and wastewater services.
Water market competition in England brings a great opportunity to businesses that will soon be able to switch their water supplier. Switching could start as early as autumn 2016, so our advice is to act now. We’re on hand to help you get your house in order ahead of switching supplier, by reviewing your bills, investigating your usage and unearthing savings.
To find out how you can prepare to maximise your savings and minimise your costs click here.