Ofwat has now formally designated the final version of the Market Arrangements Code (MAC) for the business retail market, which will open for all eligible customers on 1 April 2017.
The designation follows the recent publication of Ofwat’s Consultation on the MAC decisions and responses document alongside the proposed final version of the Code.
Yesterday the regulator hosted an event at which appointed water and wastewater companies and water supply and sewerage licensees, together with MOSL, the Market Operator, signed the MAC Framework Agreement. This is the contract document under which the MAC becomes binding and enforceable between all wholesalers, retailers and the MO.
The MAC is the non-statutory code issued by Ofwat in relation to conditions in Water Supply and Sewerage Licences and Instruments of Appointment. Amongst other things, it sets up arrangements for how the retail market will operate, including the setting up of a panel to help oversee the codes and any changes to these and the appointment of the Market Operator.
The MAC condition will come into force at Market Opening and the MAC will become effective on 1 April 2017.
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