News
Q3 2017 Saw Biggest Switching Of Supplier Since Retail Water Market Opened
The latest report on the retail water market by sector regulator Ofwat has revealed that the third quarter of last year saw the biggest number of switches of both wastewater and water supplier since the retail market opened on April 1st 2017.
Part of the changes to the water market last year included allowing the majority of businesses and organisations in England to choose which company they want to supply them with their retail water services. Eligible charities, businesses and those in the public sector no longer face restrictions on buying retail water services from their regional company – they are now free to choose whichever retailer they want.
In Wales, however, be aware that the procedure is different and you are only able to switch retailers if you use over 50 million litres of water annually.
This latest Ofwat report shows that more than 30,000 switches took place in England between October and December last year, bringing the total number since the market opened to 91,960. Not only that but it also reveals that there have been new entrants into the market, so there’s even more choice available now for customers.
Emma Kelso, senior director with Ofwat, explained that there has been a steady increase in businesses moving water suppliers, or renegotiating deals with their current one since April 2017.
“The third quarter figures are promising and we hope to see businesses continuing to take advantage of the opportunities they now have.
“We are now seeing more self-suppliers and national retailers entering the market, which is encouraging. This offers customers all over England more choice for their water supplier as retailers are not restricted to specific regions.
“However, Ofwat is continuing to monitor how the market is developing and is in the process of carrying out insight work with businesses across England to find out how the market is working for them. With this, we are continuing to work with colleagues across the industry to ensure that the business water market works efficiently and remains fit for the future,” she went on to say.
Bear in mind that only non-household customers are able to choose water retailers and you can use the Open Water eligibility checker to see if you qualify. The water retailer in question will be responsible for making sure that eligibility is assessed properly – but they may also change or assess eligibility as required under their own obligations and the Open Water checker isn’t the final determination where eligibility is concerned.
One of the biggest benefits of the open water market is that customers are better able to negotiate with retailers so they can enjoy the best prices and also tailor service packages to suit their individual needs. As a result, businesses can expect to save money and conserve water through increased water efficiency and lower bills.
It’s thought the competitive water market will also help provide over £200 million of benefit to the economy and help drive environmental benefits as well.
Want to switch water supplier? Get in touch with us today.