Scottish businessman and entrepreneur John Wyllie has signed a deal with Thames Water which could open the Scottish water market up to serious competition for the first time since deregulation.
The Paisley-born dealmaker will act as an intermediary between Thames Water Commercial Services, part of the £1.8 billion turnover Thames Water Group, which serves 15 million customers in London and the Thames Valley, and Scottish businesses who currently take this element of their utility provision from Business Stream.
Way2Market Ltd, trading as Water24, will be able to utilise Thames Water's experience and capability and act as an alternative supplier to guarantee cost savings to all Scottish enterprises.
Wyllie, who will be interim Managing Director of Water24, said:
"This is a groundbreaking deal which will have major implications for the way all Scottish companies access their utility requirements. It will bring competition to a market which has lacked it for the past five years.”
"Importantly, it will give major water consumers a choice, and the opportunity to make significant savings on one of their most prominent fixed costs."
When the Scottish water market was opened up in 2008, Scottish Water separated into a retail and a wholesale arm. The retail arm, Business Stream, supplies 97% of the 157,000 companies in Scotland which pay water rates.
Thames Water is now looking to penetrate the Scottish retail market - through its affiliate Thames Water Commercial Services, the utility has undergone the complex regulatory procedures required for it to be granted a retail licence for Scotland. Under the terms of competition legislation, it will be able to use Scottish Water's infrastructure to supply locally.
Once companies sign up with Water24, all the customer service, billing and back office functions will be undertaken by Thames Water, using its existing commercial infrastructure. Wyllie, who commenced operations in January, already has contracts lined up and is forecasting year one turnover in excess of £20 million.
The entrepreneur has already identified a number of intensive water users within the Scottish economy as his primary targets, with other major businesses being programmed-in for subsequent marketing drives. His contract with Thames Water will allow him to approach major UK multiples and restaurant chains. Scotland's heavily-weighted SME sector will be a subsequent area for expansion.
Graham Southall, Director of Thames Water Commercial Services, said:
"The Scottish market affords considerable opportunities and we are pleased to be partnering with Water24 to roll out our industry-leading service to a whole new portfolio of corporate and SME customers."
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