30th March 2016 | Posted by: Daniel Birkett | Industry News

The UK water market is set to be deregulated in the very near future, providing businesses with the opportunity to switch their supplier in order to secure a better deal.

Restrictions on the water market have prevented new firms from competing for your business, however that is expected to change very soon due to the recent OFWAT  proposals. Opening up the water market will increase competition which can only be a good thing for consumers, as this is likely to lower prices and improve service in an attempt to secure your business.

As it stands, only non-domestic properties in Scotland are able to switch their suppliers, as well as large-scale water users (over 50,000m ³ per annum) in England in Wales. It is also possible to apply for 'inset appointments' which enable firms to change the statutory remit of water suppliers, although this is only really beneficial to very large sites.

The Scottish water market was deregulated back in 2008 when "Business Stream" took full control of retail contracts. Then in 2010, other licensed water providers were able to compete with Business Stream for contracts, with further retail margin adjustments since then to improve competition.

These changes to the Scottish model have been the basis for OFWAT's deregulation proposals, taking into account the successes and mistakes which occurred during the process. It is expected that the deregulation of the English and Welsh markets will take place in 2017/18.

Businesses can prepare for these changes by getting in touch with Apollo today so we can review your current bills to help identify a better contract as quickly as possible when the market eventually opens up. If you would like to learn more about how we can help your business, then get in touch by filling out the form on our contact page or by calling us on 01257 239500.