What do water market changes mean for you?
- Credit: PA
Water supply for businesses will be on the open market in England tomorrow when new rules for business supply come in to force.
The change will allow businesses, public sector bodies and charities to choose their supplier, or supply their own, from licensed regional water companies giving more choice to customers.
It is hoped this will lead to more competitive prices and trickle down to costs for consumers.
The change is being overseen by regulator Ofwat which said there will be £200m of benefits to the UK economy.
Anglia Water has announced a joint venture with Northumbrian Water, the parent of Essex and Suffolk Water, called Wave which will provide water supply and waste water services.
The joint venture will initially create a business with more than a quarter of a million customers and a combined turnover of more than £500m.
Services offered by Wave will enable businesses with multi-site premises to receive unified billing for all their sites and be able to manage their account online.
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The companies have said their future intention is to become a multi-utility retailer and also provide gas and electricity services in addition to the water and wastewater services initially on offer.
£2.4bn estimated value of the market
20 active retailers
Suffolk brewery Greene King are due to be the only self-supplier.
£200m benefit to the economy
1.2m customers who can choose their supplier