Water exit U-turn is a landmark decision

Two significant things happened in the world of utilities this week – one expected, one not. In the energy arena, Ofgem made the long-awaited referral of the retail market to the Competition and Markets Authority. The fact that this has been welcomed by many within the market as well as by its critics is symptomatic of just how bad things have got. It is hoped it will take some of the political heat out of the debate and serve to clear the air in time for sensible policy decisions to be taken after the 2015 election. You can read our analysis of the announcement and sector reaction on p14.

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