Anglian Water joint venture being examined by Competition and Markets Authority
- Credit: PA
A joint venture launched by Anglian Water Group is being probed by the Competition and Markets Authority.
The group announced in March that it would launch a new company, Wave, with Northumbrian Water Group, following changes to the water market allowing business customers to choose their supplier in a similar manner to other utilities.
Both companies entered the market in April as separate entities and planned to combine to form Wave following CMA clearance.
The authority is now considering if the deal would constitute a merger and result 'in a substantial lessening of competition' within any UK market.
It is inviting comments until June 20, and will make its phase 1 decision by August 8, said the CMA.
If approved, Wave would be a 50-50 joint venture between Anglian Water Business and NWG Business, part of Northumbrian Water, the parent company to Essex and Suffolk Water.