Are you aware of the water deals? Do you also face the problem of high prices of water supply? If yes, here we are to make you aware of the range of deals out there and business water suppliers. The lack of information about different deals and sectors makes it hard for businesses to know about the complete process. Due to this, many enterprises are paying unnecessarily higher bills for their supply.
Here in this guide, we will provide you with a clear understanding of the water market. We will also talk about your business water and sewage services in detail. If you are interested to know about this, continue reading the valuable information mentioned below-
What is an open water market?
It is also referred to as market deregulation. It means the retail water sector now opens for new companies.
This gives the business enterprises the chance to choose their water services on their own. Earlier, this option of switching the water supplier is available only to the businesses that consume more than 50 megalitres.
But now, any business enterprise can choose from where to purchase their utility services from the open market.
However, other countries opened the retail market or business enterprises much earlier. Scotland water market was opened for the retail market in 2008. The Scottish market also becomes the world’s first competitive water market.
England’s market was deregulated back in April 2017. This means about 1.5 million organizations can now look for their water services and shop the deal which best suits their need and requirement.
Who is eligible to buy a business water supply?
It must be clear that the water market is open for business units and not for the household. But any non-business household such as schools, college, universities, charities, NHS trust, or any other organization which pays business rates can choose business water market for best services.
What controls the water market?
However, the water services are opened, but officials still regulate it to look after the pricing policy. These officials ensure there should be a limit to the price the consumer has to pay to business water suppliers. This is how they protect consumers’ interests and ensure open market water suppliers do not rip them off.
Different countries have set up various departments and organizations to monitor and regulate open water market operations.
England is partnered with three partner organizations. Let us have a look at them-
It is the licensing authority for the market. The suppliers have to take the license from Ofwat to carry out their operations. Apart from this, it acts as an economic regulator for the market.
It is the department responsible for environment, food, and rural affairs.
The market operator looks after the efficient working of the market.
In Scotland, the department responsible for regulating the market is WICS. It stands for water industry commission for Scotland.
This is all about the basic understanding of business water suppliers in different countries and how they regulate the open market program.