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New Water Market Competition in England and Wales

The water market in England and Wales is set to follow Scotland, as it moves to open up competition this year.

From April 2017, more than 1.2 million businesses will be able to choose their water supplier rather than rely on the company holding the regional monopoly in their area. This is something which is has been in place in Scotland since 2008, but is a first for those in England and Wales.

What does this mean for businesses?

Not only will this give businesses in England and Wales the freedom of choice over their preferred supplier, the move is also hoped to create a more efficient and competitive service.

With numerous water providers competing for the same business across the country, it’s expected to have a positive effect on cost and value for money for customers. This is particularly true for many multi-site operators, such as national chains, who will be able to choose one supplier to avoid paying extra administrative costs to manage separate billing from the various regional water suppliers across the country.

In addition, it’s hoped the increased competition in the water market will encourage the water companies to offer a better customer service and overall experience – something which has been pointed to as a deciding factor in the overall water reforms.

Under Ofwat’s plans micro businesses will be granted a ‘cooling off’ period of seven calendar days after signing up to a new provider. The provider will be prohibited from rolling over contracts at the end of the contract.

How can businesses make the most of this?

As this is something which is completely new to businesses in England and Wales, the best thing to do would be to contact a company which has experience of securing the best water deals for businesses. With over 20 years in the industry, Business Cost Consultants have a reputation of not only negotiating the best rates and contracts, but also continuously saving money on utilities for our clients.

In order to know what the best solution is for your company, it’s best to have an audit carried out to assess your current water usage and services. This can then identify where savings can be made in terms of rate charged and any usage faults or issues.

Our typical savings on water for businesses range between 5% and 50%. To receive your free, no-obligation audit to find out how much you can save, get in touch or call 0141 226 8525.

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