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Benefits of switching business water suppliers
Many business owners are unaware that they can switch water suppliers just as they can switch energy providers. In 2017, new laws regarding the deregulation of the water industry allowed businesses, charities and selected public sector organisations to choose a new water supplier.
In this guide, we’ll inform you of the benefits of switching water supplier and provide you with advice on how to make the right decision when choosing a new provider.
How much do businesses typically spend on their water supply?
Typically, small businesses can pay up to around £1,165.43 annually on their water supply, whilst medium/large businesses can spend as much as £7,950.80 per year.
Water consumption rates and your selected tariff will have the most prominent impact on your overall costs, so choosing the right contract and using water efficiently could help to reduce your bill.
Which businesses are permitted to change water suppliers?
Before the 2017 launch of the Open Water Market, only businesses which used over 5000m3 of water were permitted to switch water suppliers. Now nearly all businesses within the UK and Scotland can switch to a supplier of their choice.
There are still restrictions on changing water suppliers in Wales. Additionally, domestic customers are not yet permitted to choose a new water supplier.
What are the benefits of switching water suppliers?
There are many benefits of switching water suppliers and choosing a more suitable deal for your business’ water supply. These include:
- Quick and easy process – Contrary to the beliefs of some, switching water suppliers can be a quick and simple process. The set up can take a matter of minutes and there’ll be no disruption to your water supply.
- Lower prices – Switching water suppliers could help you find a cheaper deal with lower rates. It has been estimated that businesses could save around 12% on their water bills by selecting a new supplier . Additionally, once you’ve found suitable rates, you can fix them for up to three years.
- Tailored tariffs – Different deals will be available with different suppliers, so you may find a water contract that is better suited to your business’ needs with a new provider.
- Consolidated bills – This is particularly beneficial for multi-site businesses. Companies with more than one site can select the same supplier for all their locations and consolidate their bills into one agreement.
- Better service – A new supplier may be able to offer you better service and advice for your business. Good customer service is key, so if you’re unsatisfied with your current water supplier’s service, it may be worth switching to a different provider.
How to switch water suppliers
At Business Electricity Prices, we can help you compare business water prices to find the best deal for your company’s needs.
When is the best time to switch water suppliers?
The best time to switch water suppliers is when your current contract is up for renewal. This way, you avoid any early exit fees and benefit from some of the best rates available on the market.
How can I improve my business’ water efficiency?
As aforementioned, water efficiency is just as important as finding a suitable deal for your business’ water supply. A good deal and high-water efficiency help to keep your water bills as low as possible.
Here are a few measures you can implement in your business to improve water efficiency:
- Conduct frequent checks on pipework
- Fix any leaks or drips as soon as possible
- Choose water-efficient settings for appliances such as dishwashers and washing machines.
- Invest in a rainwater harvesting device (water butt).
- Instruct staff to close all taps properly
- Invest in water-efficient bathroom facilities such as low/dual flush toilets, efficient showerheads, waterless urinals and tap aerators. Tap aerators can also be placed in kitchens.
- Invest in a water meter and monitor your usage.
- Ensure all staff are on board with efforts to save water.
For more advice on how to reduce your business water bill, visit our guide on How To Save On Business Water Costs.
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