What has the retail water market done for businesses?
Tuesday 24th December 2024
In April 2017, England’s water market was deregulated, meaning business were free to choose who supplied their commercial water, which introduced competition among retailers. The reason behind the transition was to introduce better services at lower costs, and to promote efficiency in the way businesses use water.
ut what impact have the change actually had? Here's a closer look at the benefits it has brought to businesses.
Cost savings and financial control
The leading change businesses have seen from the transformation are cost reductions. With a range of water retailer competing for customers, businesses are able to shop around for the best price, forcing retailers to be as competitive as possible. This competition ensures businesses aren’t locked into high tariffs, enabling them to save money to reallocate to other business areas.
Consolidated billing for simplicity
For businesses operating multiple sites, managing water bills used to be a complex and time-consuming task. The deregulated market allows multi-site companies to consolidate their accounts under one provider. This streamlines billing and reduces administrative overhead, saving both time and money.
Enhanced customer service
In the same way that deregulation has driven cost reductions, it’s also forced retailers to place focus on the service they provide too. Many businesses see customer service as a top priority alongside competitive pricing, meaning retailers have to go the extra mile to remain competitive. From personalised advice to timely responses, businesses now benefit from better communication and support.
Some retailers now also offer tools such as smart meters and online dashboards, to enable businesses to monitor their water consumption and address issues fast and efficiently.
Water efficiency and sustainability
More and more retailers are offering water-saving services in a bid to help businesses reduce their consumption. By identifying inefficiencies and suggesting tailored solutions, businesses can not only save on costs but also reduce their environmental footprint. This aligns with growing expectations for corporate social responsibility, which can enhance brand reputation.
Flexibility and tailored solutions
Businesses are now able to make decisions that go beyond just price. They have the flexibility to choose retailers that align with other priorities they might have, such as becoming more sustainable or using technology to drive innovation.
There’s also scope to negotiate tailored contracts, picking up additional services, such as leak detection or consumption analytics.
Positive environmental impact
As well as being a positive for businesses, the focus on water efficiency is also essential for the planet. Less water waste and lower consumption help support the impact of climate change and work towards a more sustainable future. Retailers play a key role in driving this progress through education and support.
Remaining challenges
Despite these advantages, not all businesses have embraced the new market. Smaller companies, in particular, may be unaware of their ability to switch or feel the perceived savings aren’t worth the effort. Retailers must invest in awareness campaigns to ensure all businesses can benefit from deregulation.
A step towards a sustainable future
The retail water market has empowered businesses to take control of their water management. Lower costs, better service, and a focus on efficiency are transforming the way organisations approach this essential utility.
Contact Everflow today!
For businesses looking to compare business water and explore tailored solutions, we’re here to help. Find out how you can make the most of the retail water market today.