top of page

More work needed to put customers at the heart of the retail market

by Karma Loveday

The creation of the Strategic Panel and Code Change Committee in 2021 have boosted customer focus – but more needs to be done to ensure customer interest is front and centre, especially by wholesalers. 


That’s according to a report from Ofwat reviewing market governance. The regulator said:

  • Wholesalers’ engagement with market governance is “variegated and often insufficient”. Wholesalers must do more to support the market, and this needs greater commitment at senior and board level. BR-MeX and a reformed Market Performance Framework will support this objective.

  • The Code Change Committee’s final recommendation reports on proposed code changes could be “greatly enhanced if they provided more detail and analysis of how a change impacts customers and how stakeholder views have influenced its development, and their drafting could be refined to greater support efficient and effective decision-making”.

  • Trading Parties and industry groups well-placed to facilitate innovation need to go further to propose innovative change that benefits customers.

Comments


bottom of page