When England’s water market undergoes deregulation in 2017, it is hoped that the open market will inspire innovation from water providers and give rise to new business models – potentially creating a “win-win” situation of lower prices for consumers and increased profits for water providers.
It’s easy to see how England’s businesses could benefit from consolidated billing and competitive added value packages, but the new market may also bring significant benefit to the wider population, and the environment – by changing the way both suppliers and business consumers manage their water efficiency for the long term.
Creating a sustainable future for water supplyPopulation growth and an ageing infrastructure is putting extra strain on our water supply – it’s a familiar situation in the world of utilities, with themes echoed from England’s energy supply landscape. The time has come for England’s water companies to respond to the urgent need for change, by developing technology and services which can help businesses of all sizes improve the way they manage water; not only to cut the financial cost of business water, but also to reduce environmental impact and lower the amount of water consumed overall.
Competition and innovation: Consumers have power to drive change
For businesses focused on fulfilling their Corporate Social Responsibility (CSR), the changes made possible by deregulation could present a welcome opportunity to give green credentials a boost. However, it will be important to act and seize the opportunity presented by the open market, as only through participation can businesses ensure that providers step up to the mark – If English businesses prove reluctant to switch, it will take much longer for the market to become truly competitive. Thanks to deregulation, the power to drive change is being placed in the hands of the consumer; water providers who wish to thrive in the open market will be required to combine discounts and flexible services with advice on technical issues and innovative approaches to water efficiency.
World-wide spending on water technology is expected to rise to 25 billion dollars by 2018, up 67% from 2010 – a sure sign that water efficiency measures are a priority across the globe.
The importance of data
When it comes to improving water efficiency, it pays to have all of the information you need at your fingertips. Industry experts predict that water companies will be making increased use of big data to drive their own efficiencies. For example: sensor data can be leveraged to isolate leaks early and reduce repair costs, data on the energy used for pumping and delivering water will help to reduce spend at peak times, and data on reservoir levels can help to prevent storm overflows.
For business consumers, data is also an essential first step to better water management. As with energy management, an insight into how and when you are using water will enable you to take steps to reduce usage and cut costs. Whilst deregulation is likely to offer valuable new data gathering opportunities, through more regular automated meter readings, businesses needn’t wait for the market to open to address their water use – free water audits are available to help companies identify the best ways to become more efficient; from simple changes in daily routines to complex adjustments in essential processes. Having your data in order now will also ensure that you are in a position to secure the very best contract for your needs when the water market opens.
Start your journey to better water efficiency with a free water audit.