Since April 2017, the first and largest competitive water retail market in the world has been open for business. This was the biggest shake up of the UK water industry in nearly 30 years, since privatisation took place in 1989.
Whereas previously water suppliers had a monopoly over their region, which limited consumer choice and gave suppliers no incentive to provide better value or services.
Deregulation of the water market has allowed an estimated 1.2 million businesses and organisations in England and Wales to shop around and negotiate a better deal from a cheaper water supplier, in much the same way as the gas and electricity markets.
During the first year since the changes took place, around 10% of eligible customers have taken advantage by either switching their supply or negotiating a better deal with an existing supplier. The move has increased competition and helped to drive prices down and quality of service up. Leading to an estimated £8 million in collective savings, along with additional benefits such as reduced consumption and simplification of billing.
Contact out team today to find out more about how we can help your organisation save on water bills.