Water deregulation and increased competition within the water supply sector have had a seismic effect on how businesses operate within the UK. Prior to regulation, businesses were largely limited to a single supplier and unable to make changes. With the increased competition, that’s a thing of the past, and these changes are far-reaching.
Switching is much easier
Businesses have always been able to switch their energy suppliers, but the picture was much more complex when it came to water. All of that has changed with deregulation. UK businesses are now able to use comparison sites like https://www.businesswaterquotes.co.uk/ to compare water rates and ultimately switch tariffs. This is the biggest consequence of deregulation and one that has sent ripples through the sector.
Water for business used to be inflexible. Rollover tariffs that renewed automatically meant that a business would often pay much more than it needed to for water. Since escaping these contracts was all but impossible, the situation fostered a ‘laissez-faire’ attitude towards water use. Rather than trying to make savings and assessing the market, businesses simply forged ahead on their existing contracts.
Greater awareness of water usage
This is a natural culmination of the previous point. Once businesses were given more control over their tariffs and the ability to switch, water usage was suddenly a personal matter. More and more businesses became conscious not only of how much they were paying but how much water they actually use on a day-to-day basis. This coincided with an ever-sharper focus on environmental issues and the Green Agenda.
As businesses compare water tariffs, they also look to make savings elsewhere. Many companies undertake regular water audits to look for areas of inefficiency and even leaks, all with the aim of reducing how much water they waste. Rather than an area that’s essentially out of a business’s hands, water use is now in clear focus, which can only be good for the planet.
Better customer service and personalisation
With more competition comes greater efficiency. Where once water companies didn’t need to compete for business, in the wake of deregulation, they have to lure customers in and retain them with better service. This obviously applies to responsive and agile customer service departments, as well as expanded services, but it also means tailor-made tariffs designed specifically to fit individual businesses.
Long gone are the days of ‘one size fits all’ type contracts. Businesses increasingly seek out tariffs that have been crafted nearly from the ground up to meet their needs. That’s especially true of startups and growing companies. The demands and requirements of a growing company can change on a near-monthly basis. Finding a contract that meets those needs exactly is difficult, but the impact of deregulation has made it much simpler. Water companies are more accommodating and more willing to custom make their quotes. This level of personalisation saves both water and money and is likely to continue into the future.
