Did you know that your business can now compare business water supply options? The water market was deregulated across the whole of England in April 2017, in an effort to remove supplier control. Just like business energy, your business is now free to compare business water retailers.
As an essential utility, in the past businesses were forced to accept the prices offered by their regional water provider. Today, if you are unhappy with your current business water rates, switching to a new supplier could help you save.
Up until April 2017, it was not possible to compare business water quotes. However, the process of water deregulation known as the Open Water Market has removed supplier monopolies. This means that water suppliers no longer have control over certain areas of the country. Every business is now able to compare business water rates UK wide, to find the best business water supplier.
In the past customers did not have a choice, with water provided by the water supplier of the region. The deregulation of the market has made the industry more competitive, with suppliers offering great rates to gain new customers. This means that if you compare business water businesses could switch and reduce water bills.
If you are unhappy with your water supplier, now is the time to compare and see what offers are available.
Water deregulation is not a new concept in the UK. Since 2008 businesses in Scotland have been able to compare business water features of the best business water retailers. In Scotland, this was known as The Water Reform.
Now that the market has opened across England, businesses have access to a wider range of suppliers. If your current water provider kept their supplier license, you will currently be signed up to their default tariff. This could potentially be more expensive than the tariffs available from other suppliers. In many cases businesses are able to reduce their water bills. However, as the market has only recently deregulated, it is likely that over time the savings will increase.
If your supplier left the commercial market, your supply will have been automatically allocated to an alternative provider. However, you will not be tied into a contract and will be free to switch.
Not only can businesses compare business water charges, they can also seek better customer service and improved efficiency levels. Switching to a new supplier is actually very simple. If you are coming to the end of your water supply contract, you will soon be free to change suppliers.
There are two main factors which will determine whether your business can switch to a new business water contract. Your business must be based in either Scotland or England, as Wales has not yet been deregulated. In addition, your company must be mainly based within business premises, as domestic properties cannot switch.
If you have compared prices and are ready to switch, you will need your Supply Point Identification Number (SPID). This is 8 digits long and can be easily found on one of your water supply bills. Your new supplier will use this number to contact your old provider and move the supply across.
In most situations it takes an average of 28 days to switch to a new supplier. Although, the actual switching time will depend on factors such as the number of premises, your location and previous contract.
The first step to finding the best supplier is to conduct a water usage audit. Take a look at your businesses water bills for the last 12 months, this will highlight any issues.
When you compare business water bills, you may find billing issues, unexpected charges or high usage periods. Once you compare business water usage, you may find ways to improve water efficiency.
Your actual water bill will be completely bespoke to you, as there are many factors which determine the price. For example, your businesses location, size and water usage will all impact your overall water price.
By gaining more knowledge about your consumption, you will be in a better position to compare an negotiate new deals. For example, perhaps you are looking to compare business water meters, efficiency plans or tariffs.
The actual wholesale supplier of your water will be determined by your business’s location. Although, the actual water supplier can be chosen by you.
There are around 25 water suppliers across the UK, so there are plenty of options to compare. Although, there are new suppliers continuing to enter this new competitive market, with many companies from an energy background.
Some businesses in the UK have been overcharged by up to 65% on their water bills in the past because of a regional lottery on location and size of premises. To ensure you pay the right rates, we can provide you with a comprehensive water audit that includes:
If you spend over £1,000 on your annual water bill, we will provide this service free of charge.