top of page

Strategic Panel sets out what is needed to make the retail market flourish

by Karma Loveday

The retail market’s leadership group, the Strategic Panel, has identified 34 actions, together with who needs to deliver them and by when, for the non-household retail market to deliver greater benefit for customers.


This was set out in the Panel’s draft Roadmap to a Flourishing Market, open for consultation until 6 August. The roadmap set out the barriers identified to the business water market flourishing and reflected the need to balance the benefits of a competitive market against the safeguards provided by regulation. “Ultimately it aims to provide Ofwat with sufficient confidence that customers will remain protected and could benefit from a move to more self-regulation and increased competition,” a press release explained.


The roadmap set out 31 market conditions which the Panel believes need to be met for the market to begin to flourish. These conditions fall into three themes:

  • Customer engagement and choice: Customers of all sizes are clear how the market operates, have confidence in exercising the choices that are available and know they are protected from mis-practice,

  • Accurate and accessible data: The customer experience and market operation are underpinned by accurate data that is accessible and that can be used to develop innovative solutions for customers.

  • Processes, capability and economics: Increased investment in smart technology enables the delivery of enhanced services to customers and market participants, unlocking the anticipated benefits of the market, including the delivery of water security nationally.


The Panel aims to finalise the roadmap in September, and delivery will be its prime focus in the coming years. The roadmap will replace the Panel’s current Priorities document.


The Strategic Panel will be presenting the strategy, including Q&A, at a roundtable on Tuesday 30 July from 2-4pm. Email panel.secretariat@mosl.co.uk to attend.

Comments


bottom of page