Cash is the life blood of every business and never more so than when the economic climate is challenging.
Since 2008, we’ve helped our customers save over £19 million. How have we done this? Or, perhaps a better question given that we’re a commercial business and facing similar cash flow challenges ourselves is: why have we done this?
The water industry in the UK is regulated by the WICS in Scotland and Ofwat in England and Wales, and each regulatory body is responsible for capping the price charged for water and sewerage services. This price setting mechanism is designed to protect customers’ by giving them certainty over prices, whilst also ensuring water suppliers can generate enough income to cover their costs.
One of the greatest advantages to the market approach in Scotland is that customers do not pay a fixed fee for their water. Costs for network maintenance and water usage are charged separately, which means taking action to cut your water usage can lead to real savings on your bills.
By helping you to reduce your water usage you will not only be saving money on your bills, but you’ll be doing your bit to help the environment too.
So what can we do for you? Here are our top five tips to reduce your organisation’s water bill:
1. Go surfing.
Approximately 38,000 customers have opted to manage their bills online since we introduced our eBilling service two years ago. This allows us to streamline our billing, reduce our costs, and pass on a discount to our customers. Furthermore, if customers also opt to pay via direct debit, we can apply a further discount to their bill.
2. Let’s stay together.
Many of our customers choose to make the most of their commitment to us by signing long term contracts lasting two years or more. Again, this helps secure our cash flow and we reciprocate by discounting their bills, giving their own cash flow a positive boost.
3. Enjoy ‘mates rates.’
Trade organisations and other bodies who sign up for water services on behalf of their clients are eligible for a discount. We’ll work out flexible terms with the group administrator based on what’s best for their members, giving each member the opportunity to save money on their bills.
4. Pay now, save now.
Some of our customers opt to pay their bills annually in advance based on estimated usage and we do reconciliation every six months to take account of actual usage. This helps secure our cash flow and, as a thank you, we discount their bill.
5. Use less water.
It’s the simplest concept, but sometimes it’s difficult to know where to start. Little things can make a big difference though. For example, just screwing an aerator on the tap can reduce the flow of water by up to 50% by injecting air into the water. Or go one step further by installing urinal control devices – these typically save 60% on water charges and can pay for themselves within just three months.
These are just some examples of how we can work with you to reduce your water bills and positively impact your bottom line.
We’re doing everything we can think of and there’s more information available, but, you tell us:
What else can we do to help you reduce your water bills and keep your business flowing smoothly? ‘Show me the money!’ – help us to help you improve your cash flow