A new survey, published today by Utilitywise plc (AIM:UTW), suggests that most English businesses are clueless to and unprepared for the upcoming English water market deregulation in April 2017.
The survey, published by the leading independent utility management consultancy, highlighted a lack of knowledge about water deregulation with only one in four businesses feeling “informed” about how upcoming water legislation will affect their business. Small businesses surveyed felt particularly uninformed about water deregulation – just 20% of them felt “informed” about the issue.
Just one in three English businesses believe their business has access to enough information on the impacts of deregulation. However, of those who are informed about water deregulation, over half (59%) of English businesses say they are likely to switch compared to 49% of unaware businesses.
Many English businesses are unaware of the potential benefits that deregulation could bring. Just four in ten English businesses think customer service will be better. Only half of businesses say value for money will be better.
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Brendan Flattery, CEO of Utilitywise said:
“The Utilitywise water survey results show that businesses across England are mostly unaware and unprepared for water deregulation in April 2017. Worryingly, the survey shows a particular lack of awareness among SMEs and a lack of belief that market deregulation will deliver better value for money to their businesses.
“From next year in England, all companies – small family businesses as well as large companies – will be able to benefit from deregulation by shopping around for the cheapest deal in a similar way to finding an energy provider.
“We’re calling for greater education about water market deregulation to ensure that businesses of all sizes don’t miss out. For our part, we’re launching a free helpline and website to help businesses become informed about the benefits that water deregulation will bring.
“Most importantly, the opening of the water market enables Utilitywise to offer our customers a full energy and water utility management plan which can deliver lower bills, better value for money, improved customer service as well as water and energy savings”.
According to Open Market, the website for the open water market, over 1.2 million eligible businesses and other non-household customers in England will be able to choose their water supplier from April 2017. Scottish businesses have benefitted from water deregulation since the Scottish water market was deregulated in 2008.