Thames Water is continuing to show its backing for the non-household retail market by offering new and improved commercial terms.

The UK’s biggest water company said it will now further support retailers and their customers by waiving collateral cover on the first £1 million of wholesale turnover for retailers across its region.

Mark Holloway, head of wholesale market services at Thames Water, said:

“This move demonstrates our commitment to be open for business and willing to listen and support those retailers operating in our region.

“By taking this step we’re promoting market entry, in particular for smaller retailers. The feedback we’ve received has been positive and we hope our current and future retailers see this as part of our continued commitment to them.”

On April 1, the water retail market opened for business - across England,1.2 million businesses, charities and public sector organisations now receive their billing, customer service and efficiency advice from a variety of retailers.

Thames Water continues to supply water and sewerage services and manage the infrastructure within its region.

The market, which is the biggest competitive water retail market in the world works like many other open utility markets with retailers buying wholesale services, namely the supply of water and removal of wastewater, and offering a package to sell to eligible customers.