# Saving on water bills: More than just a drop in the ocean for businesses facing the cost-of-living crisis Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-05-09 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Saving Money on Water Bills: A Guide for UK Businesses Meta Description: Discover how UK businesses can save money on water bills by switching providers or renegotiating deals in the competitive water market. Learn more! URL: https://financedigest.com/saving-on-water-bills-more-than-just-a-drop-in-the-ocean-for-businesses-facing-the-cost-of-living-crisishtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-675952904-1736815763435-compressed.jpg) _![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/89-1736815763515-compressed.jpg)_ _By **Josh Gill,** CEO and Founder of_ [_Everflow_](https://www.everflowwater.com/) The rising cost-of-living isn’t just a crisis facing consumers. Businesses across the country are also feeling the pinch whether it’s from the increasing utility bills, soaring fuel costs, wage growth, inflationary pressures or a mix of all of the above. As a result, UK firms of all sizes are rightly re-assessing their finances on the hunt for cost-saving measures. When it comes to savings, utility bills are often one of the first expenses scrutinised. Especially, given the recent, much publicised hike in electricity and [gas bills](https://www.financedigest.com/shocked-by-gas-bills-thrifty-dutch-stockpile-coal-wood-for-winter.html "Shocked by gas bills, thrifty Dutch stockpile coal, wood for winter"). By contrast, far less attention has been paid to the costs of [water supply](https://www.financedigest.com/best-paying-jobs-in-water-supply.html "Best Paying Jobs In Water Supply"). Perhaps understandably since water accounts for a far smaller proportion of the overall cost of utilities. But savings on water are more than just a drop in the ocean for businesses [facing the cost-of-living crisis](https://www.financedigest.com/estonias-pro-kyiv-government-faces-election-test-amid-cost-of-living-crisis.html "Estonia’s pro-Kyiv government faces election test amid cost of living crisis"). And they’ve taken on even greater importance in the current climate, at a time when the [purse strings](https://www.financedigest.com/keeping-an-eye-on-company-purse-strings-where-do-businesses-go-wrong.html "Keeping an eye on company purse strings – where do businesses go wrong?") have rarely been tighter and given that wholesale water and retail water default rates have risen in recent months. So how can [businesses save](https://www.financedigest.com/top-5-ways-businesses-can-save-on-energy-costs-in-q4.html "Top 5 Ways Businesses Can Save on Energy Costs in Q4") on water bills? **Switching** Until recently, [businesses weren’t afforded the luxury of choosing their water supplier to save](https://www.financedigest.com/how-to-save-money-on-business-tripsabroad.html "How to save money on business trips abroad") costs due to regulation mandating the exclusive use of local water suppliers. This all changed in 2017, when deregulation opened England’s [business water market](https://www.financedigest.com/9-ways-to-present-your-business-marketing-pitch.html "9 Ways to Present your Business Marketing Pitch") for competition, creating the world’s largest competitive water and wastewater retail market. Since then, businesses have been incentivised to switch providers or renegotiate their existing deal, as the new market competition has driven providers to [offer increasingly attractive rates](https://www.financedigest.com/credit-suisse-offers-higher-deposit-rates-in-asia-to-woo-the-wealthy-sources.html "Credit Suisse offers higher deposit rates in Asia to woo the wealthy – sources"). This has raised the prospect of marginal gains on water [rates for savvy business](https://www.financedigest.com/interest-rates-are-cut-to-an-all-time-low-what-will-this-mean-for-small-businesses.html "Interest rates are cut to an all-time low. What will this mean for small businesses?") leaders and CFOs to capitalise upon. For example, based on an average spend of £2,000 per annum on water and wastewater, [SMEs can save an average of over £500 per year](https://www.financedigest.com/yorkshire-bank-reveals-five-key-challenges-smes-face-year-ahead.html "Yorkshire Bank reveals five key challenges SMEs face in the year ahead") by switching to Everflow. Although there appears to be a positive, upward [trend in awareness among businesses](https://www.financedigest.com/2023-supply-chain-trends-for-businesses-to-ensure-a-more-efficient-supply-chain-strategy.html "2023 supply chain trends for businesses to ensure a more efficient supply chain strategy") of the benefits of switching providers and how to do so, there is still progress to be made. The water market falls well below other utility markets in terms of customers switching, with Ofwat’s [State of the Market report](https://www.ofwat.gov.uk/wp-content/uploads/2021/12/SoM-2020-21-Report.pdf) finding that only 9% of all customers in the water market had been active in the prior 12-months. And almost half of [businesses remain unaware that they can shop around and choose](https://www.financedigest.com/tips-for-choosing-the-right-chief-finance-officer-for-your-business.html "Tips for Choosing the Right Chief Finance Officer for Your Business") their water supplier. For businesses interested to know more but unsure how to switch or even where to start, brokers play a crucial role in providing UK businesses with the insights and [advice](https://www.financedigest.com/financial-advice-for-starting-your-own-business.html "Financial advice for starting your own business") needed to understand this new marketplace and find the best deals for their business. Additionally, businesses can also view our [instant quoting tool](https://www.everflowwater.com/switch-now) which provides a quote in minutes. **Bill management** [Managing your bills is an important](https://www.financedigest.com/four-reasons-whycloud-based-inventory-management-is-important-for-your-ecommerce-business.html "Four reasons whycloud-based inventory management is important for your ecommerce business") step to becoming aware of your outgoings on water and how much you can be saving. In particular, staying on [top of your invoices will keep you up to date on the period you’re being charged for and help you plan effectively for any adjustments in prices](https://www.financedigest.com/4-for-the-price-of-1-what-you-can-buy-in-the-uks-top-northern-cities-for-the-price-of-a-london-pad.html "4 for the price of 1: What you can buy in the UK’s top northern cities for the price of a London pad") which occur every April, when wholesalers increase your charges. As well as reading your invoices, another [way to manage](https://www.financedigest.com/5-practical-ways-to-manage-your-business-expenses.html "5 Practical Ways To Manage Your Business Expenses") your bills will be to read your water meter regularly. We recommend checking around every six months. This will ensure you avoid adjustments if your usage changes over [time and keeps your bills](https://www.financedigest.com/uks-sunak-to-halve-support-that-helps-businesses-pay-fuel-bills-the-times.html "UK’s Sunak to halve support that helps businesses pay fuel bills -The Times") as accurate as possible. Additionally, it can help you to spot any leaks or problems. Only when businesses are fully aware of their usage, as they are with their electric and gas usage, will they be able to identify problems and [address the issue](https://www.financedigest.com/havensrock-thrive-app-launched-by-punter-southall-health-and-protection-to-address-workplace-mental-health-issues.html "Havensrock Thrive App launched by Punter Southall Health and Protection to address workplace mental health issues"). **Efficiencies** Possibly the most obvious [way to save money on water](https://www.financedigest.com/5-simple-ways-in-which-your-business-can-save-water.html "5 simple ways in which your business can save water") bills is to use less water. Measures to [create efficiencies](https://www.financedigest.com/how-to-create-a-more-efficient-transparent-and-trusted-supply-chain-for-the-gold-jewellery-industry-using-blockchain-technology.html "How to create a more efficient, transparent and trusted supply chain for the gold jewellery industry using blockchain technology") in your water usage can support while having the added benefit of contributing positively towards your sustainability goals. However the solutions aren’t always as straightforward as you might think. - Tap aerators are small devices that are easy to install. They mix the water with air as it leaves the tap, meaning less water is used while pressure remains high. - As much as ten litres of water is wasted every day, waiting for the tap to run cold for drinking water. Water coolers are a quick and easy [way to deliver instant](https://www.financedigest.com/5-ways-to-maximise-the-value-of-instant-payments.html "5 ways to maximise the value of instant payments") cold water for staff and reduce unnecessary wastage. - Washing up bowls at each washing up point can help to significantly reduce the amount of water needed. - Installing dual-flush mechanisms on toilets gives you a [choice of how much water](https://www.financedigest.com/canada-water-smart-choice-renters.html "Canada Water Is A Smart Choice For Renters") to use, saving between 7-9 litres of water per flush compared to traditional systems. - If your [business has showers for employees](https://www.financedigest.com/why-investing-in-employee-health-can-be-good-for-business.html "Why investing in employee health can be good for business"), consider using low-flow shower heads to reduce usage, and shower timers to increase awareness and limit water wasted. - [Investing in eco models](https://www.financedigest.com/nissan-renault-to-invest-600-million-to-make-6-new-models-in-india.html "Nissan, Renault to invest 0 million to make 6 new models in India") of appliances and setting other existing appliances to eco settings can help to reduce wastage too. - Dripping taps can waste more than 5,500 litres of water a year. Although fixing them can be costly depending on how bad the problem is, the water savings can repay the short-term outlay in the long-run. There are a range of solutions to [managing and reducing your water](https://www.financedigest.com/uk-to-manage-water-resources-carefully-as-drought-continues.html "UK to manage water resources carefully as drought continues") bills. [Businesses that are able to do so successfully](https://www.financedigest.com/building-or-maintaining-a-successful-business-with-recession-on-the-horizon.html "Building or maintaining a successful business with recession on the horizon") can make significant, long-term savings, gain an edge over their competitors and boost their sustainability credentials. Amid such a challenging economic landscape, there has never been a better [time for businesses](https://www.financedigest.com/why-the-new-year-is-the-best-time-to-start-your-dream-tech-business.html "Why the New Year is the best time to start your dream tech business") to act on their water bills. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---