Is Your Business Ready? You can now switch and save on your water too!
Here at Love Energy Savings, it has always been our mission to save your business money on your commercial electricity and gas bills. We believe that you should not have to pay over-the-odds for your utilities and very soon, the same will be the case for your water supply.
From April 2017, the water market as you know it will be changing and as a business you’re set to benefit.
Currently, only non-domestic users who consume more than 5 mega-litres of water a year can choose which provider supplies their water, for the rest of us, your supplier is dictated by geographical location.
As a result, there’s very little competition, therefore giving no incentive for suppliers to lower prices or provide adequate customer service. For non-domestic consumers, this will soon be a thing of the past.
Why is the water market deregulating?
As mentioned above, there’s currently no incentive for water suppliers to lower prices or improve their customer service, this is because their customers are not with them by choice, they’re with them out of necessity.
By opening up the water market, suppliers will have to work harder to retain and attract non-domestic customers by offering lower prices, better customer service and/or a combination of the two.
Commercial water market deregulation has already been enjoyed by business customers in Scotland, since 2008, and while there was a slow uptake to start off with, competition is now an inherent feature of the Scottish water market. Discounts across suppliers have reached 20-25% and positive customer feedback has increased.
What does this mean for my water bills?
Market deregulation signals great news for your water bills as it’s very likely you’ll see a reduction as competition drives down prices. You may also benefit from improved customer service and/or the opportunity to benefit from additional services as suppliers work hard to win and retain your custom.
What should my business do to prepare?
In Scotland, initial uptake of the opportunity to switch water supplier was very slow and this was largely to do with the lack of information that was available for businesses, communicating the benefits of seeking a better deal.
Therefore, in preparation for the market opening, businesses should be as clued up as possible when it comes to the benefits and services each water supplier provides and be aware of any changes their currently supplier may be planning as a result of deregulation.
We will be keeping you up to date as this progresses, so keep checking the blog for updates.
At Love Energy Savings we’re all about providing businesses with the best money-saving advice and this latest industry reform is certainly an opportunity for your business to secure a better deal on your commercial water bills.
In terms of preparation, the best course of action your business can take is to make sure your business water data is accurate and available so that you’re in the best bargaining position possible when the market opens in April 2017.
Having an idea of your usage and the price you’re paying will stand you in good stead when it comes to comparing alternative offers from different suppliers. Now is also a good time to check for any leaks or inefficiencies which may be driving your usage up.
You should also take the time to look into past data to ensure all payments have been made and any over/under payment issues have been rectified. This will make the process a lot smoother when it comes to negotiating a cheaper deal.
In the meantime, it’s worth checking that you aren’t paying over-the-odds on your business electricity and gas bills. The electricity and gas markets have been deregulated for years now resulting in lower prices being available for those businesses who are willing to shop around.
At Love Energy Savings, we do all the leg work for you, comparing 150 different tariffs from 18 suppliers to find you a cheaper deal. Over the years, we have performed over 102,000 switches, saving our business energy customers over £85 million.
It’s quick and simple to perform a comparison, simply enter your postcode and a few business details here for a free and impartial market comparison.
Alternatively, you can call one of our energy experts on 0800 9888 375 and they will talk you through the options available, helping you to find a cheaper deal that suits your unique business needs.