When the water market opens next April, businesses of all sizes will have the power to choose their water supplier. For those who choose to do so, the benefits include not only potential cost savings and added-value packages, but also the ability to consolidate billing across all English and Scottish sites. Consolidation could allow businesses to lessen their administrative burden and simplify budget management, which certainly holds high appeal – and now energy companies are hoping to capitalise on this, by dipping their toes into the water market to offer businesses a multi-utility option which will allow them to combine their gas, electricity and water accounts under one supplier and essentially one point of contact.
Last week, business energy supplier D-Energi declared an interest in entering the water market as part of its ambitious plans for growth; which also involve a move into renewable energy and doubling the size of its Manchester-based workforce. D-Energi is the fourth energy supplier to express an interest in expanding into water market: Corona Energy and Ecotricity have both recently revealed that they are investigating opportunities in water, whilst Regent Gas subsidiary Regent Water applied to Ofwat for a water and sewerage retail licence during September. Read more about the latest suppliers to enter the market here.
For consumers, this raft of new entrants to the water marketplace should amount to a positive change that is capable of creating increased competition, encouraging new and innovative business models and finally bringing the water market into the twenty first century. For utility companies, the new opportunities which exist in water should enable them to build on existing customer relationships and further develop the systems which are already in place to grow their service-based business in a new direction. Their emphasis now should be on providing a truly connected customer experience and a seamless transition after switching, as post-deregulation customers should soon realise that they can expect more from the supplier they choose. As ever-increasing connectivity and the Internet of Things change the way we manage our homes and businesses, suppliers need to ensure they have the data capabilities and infrastructure in place to meet consumer expectations and be a part of the evolution.
If you would like to find out how to ensure your business makes the most of changes taking place in England’s water market, please get in touch today.