Ofwat has described indicators that 10% of customers have got involved in the retail water market in one way or another over the first year as an encouraging start and a base for the market to build on.

Emma Kelso, Senior Director of Customers and Casework at the water industry regulator, was commenting on new research by market operator MOSL which suggests that more than 120,000 customers – or 10% of all of those who are eligible – will have engaged in some way in the new business retail market during its first year.

The biggest survey of eligible customers conducted since the market opened in April 2017, suggests that 35,000 customers have switched, 25,000 looked at switching but decided to stay on their current deal, 10,000 renegotiated a new deal with their current provider and 15,000 are actively considering switching now. A further 35,000 said they planned to engage in the market by April.

The survey shows that awareness of the market has increased with 89 per cent of large businesses and 48 per cent of micro businesses being aware of the market*.  

It also suggests that customer satisfaction with retailers remains high, with 77 per cent of customers saying they are satisfied with their retailer**.

The survey gives the first glimpse into the number of customers engaging in the market, as the data provided by MOSL currently records activity by supply points rather than customers.

Ofwat: “we want to see the market continue to mature”

Emma Kelso, Senior Director of Customers and Casework at Ofwat, said:

“At the end of the first year of the market, this survey gives us a flavour of the kind of engagement we are starting to see. Indicators that ten per cent of customers have got involved in the market one way or another over the first year is an encouraging start and gives a base for the market to build on.

“But we want to see the market continue to mature to give customers deals that best suit their needs.”