In April 2017, in England, the business water market became deregulated, allowing it to open up to market competition. Business organisations can select the company to deliver water to all their branch offices. The business’ chosen water supplier provides many services in connection to their water usage, such as account management, intermittent water meter readings, billing, and water efficiency advice. OFWAT is the monitoring and regulating authority that protects business consumers by providing regulations when businesses change water suppliers and circumscribing boundaries for water prices if business consumers do not change to a different water supplier.
Understanding The Business Water Market
A commercial organisation can find a water supplier just like they can choose their gas or electricity providers. Mercantile water suppliers want more business consumers to sign up so they can purchase wholesale water at better rates and supply business consumers with competitive rates for their water supply and services. Water suppliers design packages according to business water consumer trends to attract more clients.
The Benefits Of Changing Water Supplier
Businesses can expect to get many benefits by changing their water supplier if they have not recently done so. The new water supplier can provide electronic billing services that allow you to conveniently pay your bill. You can request your water supplier to provide you with frequent bills so that you can monitor your water consumption and take steps to control your water usage. Water suppliers can provide you with billing data online or in any format you choose based on your convenience.
New business clients can expect to get better customer support from their water supplier because they will compete with your previous water supplier to provide better rates and service. Selecting a more competitive water supplier means you can make savings on your consumption. Business owners that have multiple branch offices can streamline their billing services by selecting the same provider for all of their offices.
How To Change The Water Supplier For Your Business
Business owners can easily gain all the advantages listed above and more by switching to a different water supplier. Let’s break down the process of how to switch water suppliers.
1. Identify Important Considerations For A Water Supplier
Take a moment to consider what are important factors for your business’ water consumption. Be aware of the rates you are getting from your current provider to get a better deal based on your consumption. Now head online to find the best business water supplier based on the information you have.
2. Get Quotes From Multiple Providers
Provide potential water suppliers with your Supply Point Identification (SPID) number to get quotes from multiple water suppliers in your area. You can locate the information from a copy of your most recent water bill. Do not make the mistake of getting quotes from a single provider and deciding based on that information. Ask each supplier the question, “What makes your services stand apart from the rest of the suppliers?”
3. Sign The New Agreement
The new water supplier will ask you for some basic information to make the transfer and this includes:
- Your company name
- Your business address along with postcode
- Annual water consumption
- Contact name and number for your business
- Unique property reference number (optional)
After the new supplier collects all the information, they will provide you with an agreement. Carefully read through the new agreement and sign it to complete the transfer.