The Water Bill has received Royal Assent and goes on the statute book as the Water Act 2014.
The new Water Act will, for the first time, mean businesses, charities and public sector customers will have the freedom to switch supplier from 2017.
Together with the other water market reforms set out in the Act, this will grow the economy by £2 billion over the next 30 years. The Act will:
• Address growing pressure on water resources by making our supply more resilient;
• Help join up the national water network, by making it easier for water companies to buy and sell water from each other;
• Increase competition and encourage new entrants to the market who can offer alternative sources of water or innovative ways of treating sewerage; and
• Ensure that hundreds of thousands of households in the highest flood risk areas will be able to access affordable flood insurance from 2015.