Competition Watchdog Approves New Wave of Water Retailer
Published on by Water Network Research, Official research team of The Water Network
The joint venture between Anglian Water and Northumbrian Water for non-household retail services has been approved.
Anglian Water and Northumbrian Water have teamed up to create a new retailer of water and wastewater services for non-household customers.
The two companies proposed to transfer their non-household retail water and sewerage businesses to form a 50/50 joint venture ‘Wave’.
The Competition and Markets Authority (CMA) investigation and cleared the merger, suggesting there is “sufficient competition remaining with respect to other customer segments and on a broader geographic basis, including England and Scotland”.
The joint venture will have around 250,000 customers and a combined turnover of more than £500 million.
It intends to eventually become a multi-utility retailer, providing gas and electricity services.
Read full article: Energy Live News
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