The joint venture between Anglian Water and Northumbrian Water for non-household retail services has been approved.
The two companies proposed to transfer their non-household retail water and sewerage businesses to form a 50/50 joint venture ‘Wave’.
The Competition and Markets Authority (CMA) investigation and cleared the merger, suggesting there is “sufficient competition remaining with respect to other customer segments and on a broader geographic basis, including England and Scotland”.
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.