Thames Water to exit business retail market
Thames Water has announced it will exit the non-household retail market when it opens to competition, and will transfer all of its business customers to Scottish retailer Castle Water.
The Scottish supplier will start to take on retail activities for business customers on behalf of Thames Water from autumn 2016, with responsibility transferring across in stages. It will acquire the business retail operation from April 2017, when the competitive market opens fully. It will also take on Thames Water’s existing Scottish business customers.
Thames chief executive Martin Baggs said the agreement will allow the company to “concentrate on its core regional household business”.
“The government is fully opening the national retail market for business customers in order to increase competition, welcome new entrants, inject new ideas and create a more diverse range of services tailored for business needs,” he said. “Today’s decision will help to deliver those aspirations and we fully believe it is in the best interests of all our customers – both households and businesses.”
Thames Water will continue to provide retail services to household customers, which make up more than 95 per cent of its customer base. The firm said it will invest heavily in a new customer relationship and billing system for its household retail business.
Baggs added: “Castle Water, like Thames Water, prides itself on delivering high levels of service at a competitive price and is therefore ideally placed to satisfy the retail needs of our business customers, while we continue to take good care of the retail needs of our household customers.”
Castle Water chief executive John Reynolds confirmed that all business customers are being notified directly of the change, and said: “We are excited about the opportunity to provide retail services to business customers in the Thames Water area, building on our experience as one of the fastest growing water suppliers in the UK.”
-This article first appeared on Utility Week.
- Swindon sewage works hosts warfare exercise More than 100 soldiers have taken part in a major urban warfare exercise at Thames Water's Swindon Sewage Works. Read More >
- Thames Water recognised for commitment to LGBT+ staff Thames Water has rocketed more than 100 places up the charity Stonewall's workplace equality index in recognition of its... Read More >
- Thames engineers keeping services running during coronavirus outbreak Engineers from Thames Water are continuing to maintain essential water and wastewater services during the coronavirus... Read More >
- Reaching net carbon zero In summer 2019, the water industry committed to reach net carbon zero by 2030. This is a very ambitious aim and... Read More >
- Meeting AMP7 leakage targets Damian Crawford, head of smart networks & leakage at Stantec, discusses how becoming data-rich and knowledge-smart can... Read More >
- Rewarding excellence WWT content director Alec Peachey looks ahead to next year's Water Industry Awards. Read More >
- Delivering a smart network Tom Mills, senior director UK&I at Sensus, examines what a smart water network really means - and how to get there. Read More >
- A watershed moment for the water industry? Tessa Harding, director of water at Thomson Environmental Consultants, discusses the government's Environment Bill. Read More >