How to save money on your business water rates
In this article, we discuss ways in which companies can reduce water consumption and save money on business water rates.
When businesses look to save money, saving on water costs is not always at the forefront of their mind.
However, by understanding how your business consumes water, you can start identifying areas where you can make savings and free up additional funds to help you grow your business and help it to achieve its goals.
3 Core reasons to save on your business water usage
We believe that the three principal reasons to save water are a concern for the environment, water security and reducing business costs.
Securing water supplies
Even when your business taps keep running as always, in the background the UK water supplies are becoming increasingly insecure.
This is due to poor water management practices embedded in British business culture, a much-increased demand from households and agriculture, and climate change making rains less consistent and predictable.
To get an idea, it is estimated that the amount of water consumed in the UK has increased by 70% since 1985, which marks the beginning of the era of greenhouses, dishwashers, daily showers and other newly formed habits that are squeezing supplies.
Securing your water supply is therefore becoming of increasing importance for businesses, especially as it is becoming increasingly expensive to build new infrastructure to provide suitable water supplies to businesses in the UK.
And experience tells us that the costs will inevitably be passed on to water suppliers, who then will pass this on to consumers.
By securing and saving units of water today, you will save money while reducing pressure on the environment as a more efficient water supply provides resilience to climate change.
Complying with legislation and protecting the environment
By complying with the environmental legislation, you may be eligible for tax savings due to sustainable water usage.
For instance, The Enhanced Capital Allowance (ECA) water scheme encourages businesses to use technology to improve water quality and enhance water usage efficiency.
The ECA then offers up to 100% claim back for first-year investments in specific technologies and products.
Using water efficiently also reduces the portion of water drawn from aquifers and rivers, protecting these valuable sources.
Save money on your business water rates
By creating a water-efficient business, you will begin to save money on your business water rates, today and in the future as water becomes more scarce and therefore more expensive.
How to reduce your business water rates
The best ways to reduce your business water rates can come in the form of long term investment in technology, improving your water usage efficiency or simply swapping your water supplier.
Below we summarize each of these three so that you can prioritize and start saving as soon as possible.
Compare business water rates
In 2017 the business water market was deregulated, allowing new water suppliers to enter the market and create competition that ultimately benefits consumers.
Water suppliers can distinguish themselves in many ways, such as offering cheaper rates and good customer service which may include things like free water audits, high-quality 24/7 customer service and consolidated water bills.
Use our business water comparison tool, it only takes a few seconds, and an advisor will be able to assist you with the request.
Reducing your water consumption
Reducing your water consumption will bring down your business water rates, but how do you even get started with this?
We suggest that you do a water audit (sometimes offered for free if you change water supplier), but to get an idea here are a few tips to reduce your water consumption immediately:
- Use smart water meters – you can set water targets and monitor your water usage on a weekly basis.
- Insulate your water pipes to reduce the risk of them cracking or bursting, reducing the chance of a water leak.
- Analyse your current water bills – find out where you have spikes and identify what’s causing them.
- Carry out regular maintenance checks to ensure you’re running as efficiently as possible.
For long-term water-saving strategies, here are a few ideas to implement over the next few months to ensure efficient water usage:
- Purchase automatic water taps – triggered by a sensor.
- Use rainwater harvesting devices.
- Create a water recycling infrastructure that will help you to use both rainwater and greywater.
- Implement a sensored irrigation system to control your water flow.
- Apply efficient flushing systems to all of your toilets.
Business water wastage and water leakage
If your water bills are always higher than another business consuming similar amounts, then there is a chance that you may be wasting water through water leakage.
This may be the source of a painful background cost to your business which stealthily hides behind the veil of long-term permanence in your bills, especially as most businesses don’t monitor their usage or inspect for possible leaks (e.g. growing mould, subsidence).
In 2016/2017 it was reported 3.1 billion litres were lost due to leakage in England and Wales (Source: CCWater). This is a huge amount of water that both takes its toll on business profits and the environment.
See our comprehensive article on water leaks to immediately take action and potentially save costs.
Saving money on business energy rates
We hope that this article was helpful to help you become more water-efficient, but we also want to remind you that you may be bearing unnecessary costs through your other energy utilities.
Electricity doesn’t leak like water but you may be using inefficient bulbs or perhaps having idle equipment draining your power. And when it comes to gas, perhaps you may be overpaying due to inefficient building insulation.
Browse through our Energy Guide to learn more about the UK energy market and what you can do to reduce electricity and gas consumption.
And since the energy market is also de-regulated, changing your energy supplier using our business energy comparison tool may save you costs and provide a better service immediately.