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New water bill aims to increase competition and expand Ofwat powers

 |  July 10, 2012

The U.K. has published draft legislation to reform the water market. The new bill gives Ofwat new powers to create standard terms and conditions for potential new entrants. In addition, there are provisions to make it easier for businesses and public agencies to shop around for and switch sewer and water suppliers, and to enhance companies’ abilities to trade water in bulk. The hopes are that the new bill will encourage competition in the wholesale market for water.

The bill comes at a time when the U.K. is experiencing a drought and increased demand for water. The new rules are slated to be completed by April 2017.

Full content: Bloomberg


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