Open Water Market
If you buy water, wastewater (also known as sewerage) or both services for a business, charity or public sector property or number of premises, you may be able to switch your retail service supplier from April 2017. This is because the Open Water market in England will be opened to competition. Read more here.
Finance - VAT, charges and tariffs
Charges and tariffs
Each year we set our charges according to price limits that we agree with Ofwat every five years.The last of these reviews was in 2014 when prices were set for the period between 2015 and 2020.
Our charges and any changes to them are controlled by law, in particular, by the Water Industry Act 1991 and by our operating licence.
The formula for setting our charges is laid down in the licence under which we operate. The formula is RPI plus or minus K; RPI is the rate of inflation or Retail Price Index in the November prior to the start of the charging year. K is an adjustment factor, which is set individually for each water company by the Director General of Water Services Regulation Authority (Ofwat) every five years.
Both measured and unmeasured water charges for customers whose Standard Industrial Classification falls within categories 1-5 of the 1980 Standard Industrial Classification will be subject to VAT at the standard rate. For all other customers, measured and unmeasured water charges will be zero-rated.
Being water efficient saves you money
Here are some efficiency tips
- Vigilantly watch your water meter: If your meter reading looks higher than normal but nothing has changed at your premises, it may mean you have a leak. To check if this is the case it is best to take meter readings when you know no water is being used – perhaps early morning, the weekend or at night.
- Map your business water consumption: segregate your business into water zones and profile which areas of your business uses the most water. Ask yourself whether you can invest in water efficiency measures such as those sold by SaveWaterSaveMoney.
- Lead a culture change in water efficient behaviours: Motivating your staff to save water at work by, for example, introducing a water efficiency suggestion box at your business; incentives don’t always have to be monetary!
- Fit water saving products: Simply having the right fittings and appliances will save huge amounts of water.