Potential Water Bill Increases For Thousands Of Businesses
It’s possible that thousands of businesses around the UK will soon see temporary increases in their water bills, after regulator Ofwat announced that it would be allowing water suppliers to bring in increases so as to cover the costs of those customers who have been left unable to pay because of the pandemic.
The industry watchdog noted that suppliers should be able to plan for and cover bad debt levels up to two per cent, but if they have anything above this, they will be permitted to recover the amount lost from other customers over the next two years, the Independent reports.
Georgina Mills, Ofwat’s business retail market director, explained that these decisions have been taken in order to protect the interests of business customers over the short and longer term, which includes the risks posed by systemic retailer failure as the impacts of the coronavirus crisis continue to be felt.
She was quoted by the news source as saying: “By implementing market-wide adjustments to price caps, we aim to minimise any additional costs for customers in the shorter term by promoting efficiency and supporting competition.”
If you’re currently unhappy with the service that you’re receiving from your water company, it could be worth comparing business water suppliers to see if you could get a better deal with a different retailer.
The English retail water market opened up back in April 2017, allowing businesses across the country to choose their own water supplier for the first time, bringing the market in line with that of Scotland, which has been open for business since 2008.
There are all sorts of benefits associated with switching, ranging from lower bills and charges as a result of competition between retailers to improved value for money, better water efficiency services, improved standards of customer service, the opportunity to improve your own operational efficiencies and more access to help in becoming a more water-efficient business, thus reducing your costs even further.
It can be difficult to navigate the market, however, if you’ve never considered switching before and it can be tricky to find the best supplier to suit the particular needs of your business.
Part of the switching process involves having a water audit carried out across your entire site, which compares your water usage, including volumes, with what you’re being charged for.
The aim of this is to highlight any inconsistencies that may have led to you being billed incorrectly, as well as allowing for the appropriate recommendations to be made regarding how to go about reducing your water usage and lowering your associated charges.
If you’d like to find out more about any of the above, get in touch with the team here at SwitchWaterSupplier.com today to see how we can help reduce your bills and make you more water efficient in the future.