Saving Money on Business Water Consumption: What Your Provider Does Not Tell You

The recent change in the UK business water market is excellent news for those who will benefit from the opportunity to switch suppliers. The practice of changing utility providers has been around for a while in electricity and gas markets but has evaded the water market for a long time. Luckily, in April 2017, the deregulation of the UK water market let to the separation of wholesale water supply from retail services.

Despite this deregulation, businesses can expect that clean water coming in, and the wastewater being pumped out of their premises are seamlessly arranged by the same water company.

Who is eligible to switch business water suppliers?

There are two primary indicators of determining whether you can change water suppliers or not.

1. The location of your water or wastewater supplier
2. If the water supplied to your company is primarily for business purpose or domestic functions

If the water supplier is based in England or Scotland, then you can switch to a new supplier. Additionally, only those premises which are used entirely for business can qualify to change.

Why switch water suppliers?

Some businesses would think that switching is not worth the bother. But the deregulation brings about a significant benefit for consumers, which is the chance to shop around for competitive rates and better services from other suppliers. Comparison websites like Utility Bidder have long catered to the energy market, and are now offering their services for water consumers as well.

Every business needs to seriously consider every possible method that can help reduce the cost of utilities. If you are already subscribing to the practice of switching energy providers to save money, then why shouldn’t you do the same with your water supplier if you have the choice to do so?

An optimistic response to switching water suppliers

A recently conducted Consumer Council for Water survey showed that approximately 43% of small and medium businesses are aware of the option to switch water suppliers. A further 52% of those who participated in the survey also expressed a positive response to exploring their options to switch suppliers. With these numbers alone, it is safe to say that changing water suppliers will become standard practice for businesses in the coming years. If you are also thinking about doing so, you can look forward to the following benefits.

Competitive rates and better deals

With the option to switch, the market becomes more competitive, and consumers can look forward to lower prices and better service from their chosen suppliers. Depending on the size of your business as well as your consumption, you can expect to save at least 10% on your water bill. Apart from choosing a supplier based on the rate, companies can also compare each supplier based on other factors such as quality of service and customer support.

Streamlined and enhanced finance process

Companies that have multiple locations can consolidate their water service under one supplier and streamline the billing and payment process. You will likely be able to negotiate a better rate if you bundle your services and choose only one supplier for all your water needs.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.