0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 1 free articles

We’ve made wider, important changes to our print and online content to enhance the value of exclusive, insightful, discerning content we create every day. Support valuable editorial content by becoming a member of our Credit Club - register for free or choose a paid plan.

Register now or Login

KPMG to lead Ofwat’s review into business retail market

Following a “competitive tender process”, Ofwat has appointed KPMG to lead the first leg of its review of credit arrangements in the business retail market.

Amber-Ainsley   Pritchard

Share on LinkedInShare on TwittereCard
Amber-Ainsley   Pritchard
Share on LinkedInShare on TwittereCard

Ofwat launched the review after some retailers approached the regulator and asked if the current requirements are too stringent and could dissuade smaller, new entrants from competing in the market.


At present, retailers can choose to pre-pay wholesalers for the water their customers use or they can choose to post-pay which includes providing a form of credit.


Ofwat said this form of credit must cover the cost of supplying their customers for 50 days, and if they don’t have the means to do this, wholesalers can choose to no longer work with the retailer.


To make sure the market is effective, Ofwat said it wants to test the current credit arrangements to ensure they are proportionate and targeted and to see if there are better ways to protect customers and make sure the market is dynamic and competitive for retailers.


Emma Kelso, senior director of customers and casework at Ofwat, said: “The purpose of this review is to help us understand how the current arrangements, relating to credit requirements for the business retail market, are working and to examine the options available to remedy any issues which arise.


“In particular, we are keen to understand whether the current arrangements are effectively facilitating new entrants wishing to enter the market.”


Ofwat expects to publish its initial findings from the review and next steps by April 2018.

Share on LinkedInShare on TwittereCard
Add New Comment



Lloyds’ PPI bill hits £19.4bn

Lloyds’ PPI bill hits £19.4bn

Repossessions down 26.3 percent in Q4 2018

Repossessions down 26.3 percent in Q4 2018

Number of first-time buyers hit 12-year high in 2018

Number of first-time buyers hit 12-year high in 2018

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group