Ofwat has issued final guidance setting out the information the water companies must publish to support the development and operation of a market for water resources trading.
The objectives of the water resources market information requirements are to enable third parties, who can either be other incumbents or independent third parties, to:
- identify opportunities to provide new water resources; and
- identify and provide demand management and leakage services.
The information requirement, which is limited to the regulated activities of the 17 largest water companies in England and Wales, covers:
- assurance requirements
- publication of information
- market information requirements.
Ofwat expects companies to publish market information at the same time as their next Water Resources Management Plans (WRMP19) are issued in draft for public consultation to stimulate third party engagement.
Companies wholly or mainly in England will need to publish their water resources market information alongside their draft WRMP19 in January/February 2018, while companies wholly or mainly in Wales must publish in March 2018.
Ofwat said that as the markets develop the information requirement may also need to change – the regulator said that one area where markets may develop is through the action of a broker or brokers. If this happens it was likely that brokers would develop their own data sets, which may change the dynamic of the market and the information required.
The regulator will keep market information requirements under review with the expectation that requirements will evolve as markets develop.
Click here to download Water resources market information guidance
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