Anglian Water and Northumbrian Water have teamed up to create a new retailer of water and wastewater services for non-household customers.
The deal to create the new business ‘Wave’ has been struck ahead of the retail water market opening in April.
More than 1.2 million eligible businesses, charities and public sector organisations in England will be able to choose who they pay for their retail services.
The joint venture will have around 250,000 customers and a combined turnover of more than £500 million.
It intends to eventually become a multi-utility retailer, providing gas and electricity services, in addition to water and wastewater services initially on offer.
Heidi Mottram, Chief Executive of Northumbrian Water Group said: “The opening of the market enabling non-household customers to choose their supplier is a significant moment for the industry. We’re very excited at the prospect of using our combined strengths to bring a new offering to customers who are able to make a choice for the first time.
“We have every confidence that this joint venture will create a very compelling offer for non-household customers, both present and future.”
The joint venture is subject to approval from competition authorities.