Ofwat has launched a new consultation on its proposals to revise credit and collateral arrangements in the Business Retail Market.

Water sector regulator Ofwat has published its final decisions on how it will intervene to support customers’ interests in the business retail market through the current Covid-19 pandemic.

Ofwat has stepped in to ward off the risk of systemic failure and possible collapse of the still-developing retail water market as a result of the ongoing Covid-19 emergency.

Ofwat and MOSL are drawing up a package of initiatives aimed at minimising disruption to the operation of the business retail water market as a result of coronavirus and warning that the impacts are already being felt. 

Ofwat and the Environment Agency are calling on authorised wholesalers and licensed retailers in the retail water sector in England and Wales to deliver greater water efficiency in the business sector.

In the face of ongoing concerns that the retail water market is not functioning as efficiently and effectively as it should, Ofwat has said it wants to avoid a situation where the opening of the market has caused “a divergence of basic service standards provided by wholesalers between domestic and business customers.”

Not-for-profit organisation Waterwise brought together over 40 water wholesalers, retailers and regulators last week to explore how they could raise the bar on water efficiency with business water users in the UK.

Ofwat has launched a new consultation on strengthening wholesaler performance and service in the business retail market.

Ofwat has announced measures to tackle concerns expressed by retailers in late 2017 in a number of complaints about the availability and quality of meter reading services in the business retail water market.