Ofwat to overhaul water market

Ofwat to overhaul water market

Regulator Ofwat has said that they want to reform the water market in England, so that there's more competition.

Presumably, they would like to see more competition to pave the way for lower prices, and better service for all.

At the moment, households don't have any choice when it comes to their water supply, and of course, that way lies complacency and trouble. It also means there's no competition on price.

Ofwat's proposals say that companies could buy water in batches from existing providers, before selling it on.

It also means you could get bundled utilities, with your water coming with your gas and electricity. Even your broadband, depending on who buys into this idea.

"We are living in an age of retail revolution, but water customers are being left behind," said Ofwat chief executive Cathryn Ross.

"The service offers from water companies can feel behind the curve compared to the innovation customers benefit from when buying other goods. The uncomfortable truth is that, when it comes to retail offers, water companies provide an analogue service in a digital age."

"We would expect significant benefits to come through to customers in terms of better service."

"For instance, at the moment only two of the water companies in England let their customers manage their bills using an app. That's the kind of thing we'd expect to change and see real innovation."

Of course, the government would have to give the green light to anything proposed, so don't be expecting any changes soon.

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