What is SwitchWaterSupplier.com and how does it bring value to the UK water retail market
The water retail market was deregulated April 2017 allowing none-household customers such as businesses, charities and public sector organisation to switch water supplier. Giving customers the freedom and choice to choose a different water supplier.
In August 2020 SwitchWaterSupplier.com was born, enabling none domestic customers to access the entire water retail market to get a better deal on their water supply charges.
Bringing simplicity to the tender and switching process, and by accessing the whole market giving all water retailers the opportunity to bid for the business on a live tender platform.
At the end of the 60 minute process a report is generated and sent to the customer listing the various bids, the customer choses their supplier and SwitchWaterSupplier.com facilitates the switch “Switching made simple”
The SWS platform, unlike a water energy broker is independent, impartial and transparent and not tied to any one water retailer as say an agent. Brokers will generally only deal with two or three retailers or in some cases only one so the customer will only receive one maybe two pricing deals. This is of course not representative of the whole market and anticompetitive if there are 20+ water retailers.
Why would a customer settle for a proposed deal from one supplier when they can choose to go out to the whole market and obtain water supply proposals at the touch of a button in a structured competitive environment.
At the end of the day the customer decides and has a choice, providing the broker has been honest in informing the customer they are agents for only one or two specific water retailers, that is fine if not they must fully inform their customers.
There are an increasing number of energy and sustainability consultants that are joining SWS as strategic partners which gives them free access to tender their clients water supply contracts on the SWS platform, they recognise the benefits of independence, impartiality and transparency.
Also, other high value benefits to customers which are not available from most energy consultants and brokers – water audits. They are conducted in order to identify savings and refunds due to historical billing errors.
This is an absolute must as water billing data is often incorrect, for example: – a strategic partner that operates in the energy space uploaded the water billing data for a client in the North West, the end result was a saving of £3,800 a year for switching water supplier and during the process a water audit revealed an annual over charge of £6,000 per year and a refund of £35,000.
Not only do customers benefit from switching they also benefit from auditing of historical water data, ensuring the customers pay the correct charges going forwards and they can tap into further benefits such as water efficiency, water leak detection and many other water and waste water services focused on efficiency and cost reduction.
The benefits of SwitchWaterSupplier.com to the water retail market are wide and varied for example: –
Stimulating customer engagement with the water retail market, and in the process generating more businesses for water retailers.
Assisting and advising customers on how to reduce water consumption and waste water discharges, so that they can achieve their sustainability targets and ensuring customers charges are correct going forwards.
Promoting water efficiency and carbon reduction
Helping the energy management sector engage with the water retail market by working together in strategic partnerships.
In the process of switching water supplier and auditing customer bills incorrect wholesale market data is being corrected ensuring customers are billed correctly by the water retail market going forwards.
Upholding standards in the water retail market by adopting the regulator – OFWAT Principles for Voluntary Codes of Conduct and leading by example.