Protecting Customer Credit in the Event of a Disorderly Retail Exit
The Water Services Regulation Authority · West Midlands
Key facts
- Contract value
- £29,760
- Awarded
- 09 Sep 2019
- Contract starts
- 11 Sep 2019
- Contract ends
- 23 Dec 2019
- Procedure
- Open procedure (below threshold)
- Buyer type
- Central government
Awarded to
| Supplier | Value |
|---|---|
| Shepherd and Wedderburn LLP | £29,760 |
Description
The overall objectives of the project are, in the event a retailer makes a disorderly exit, to: Gather options for protecting customers' monies; Assess whether there is, or could be, a mechanism to provide recourse for retailers to recover the (reasonable) costs of honouring credit balances when taking over the supply of affected customers; Recommend the most effective option(s) for protecting customers' monies and mitigating the exposure of the incoming retailer, including an assessment of any legal or regulatory changes that may need to be made to the existing framework, as appropriate.
External elements
Benchmarking/ comparative analysis
Review and setting out what other regulators (including, but not limited to Water Industry Commission for Scotland, Ofgem, the FCA and the CAA) do to protect customer's money and provide recourse for retailers to recover (reasonable) costs of honouring credit balances, and by reference to your experience of similar organisations, set out what mechanisms exist that are used to protect customers' money. In doing so, highlight pros and cons across the different schemes.
Ofwat to provide some information about the last interim supply event
Setting out the costs, risks and feasibility for incoming retailers to take on customer credit balances and exploring mechanisms which might allow those retailers to claim this money back.
Information gathered above
Evaluation and Options proposal - From your own knowledge, advise on any options to:
External Elements
a) Secure customers' money, including but not limited to, instances where they have made pre-payments, deposits, etc. b) Introduce mechanisms for incoming retailers to be able to claim money back where they have taken on/ honoured credit balances from an outgoing retailer.
Additional information: For Further Information, please contact:[email protected]
Categories (CPV)
- 79411000 General management consultancy services
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