A good time to look at your utility bills!

June 7, 2015 by Andy Crow from Chorus Business Advisers

We have mentioned previously that businesses should be taking advantage of the low utility charges that are available on the market.

In the build up to the election there was concern that a Labour victory would result on there being a freeze on energy rate increases, which meant that utility companies were loathe to offer rates that reflected the true market prices.

As we know that didn't happen and since the Tory victory there has been a slight decrease in prices which offer great opportunities for businesses to reduce their bills.

Also for those of you who don’t already know, the water market will be joining the gas and electricity markets in 2017 by deregulating.

As it stands the water market currently consists of a series of regional monopolies. With more than 22 water suppliers in operation across the country. This has led to non-standardised billing, dissatisfaction with customer service and high costs.

When the market deregulates it will open up to competition and competitive prices. This will also mean that businesses will need to negotiate prices with suppliers in the same way that gas and electric contracts are currently negotiated.

Deregulation happened in Scotland in 2008 which resulted in more than £35million in water efficiency savings and £30 million worth of discounts made available.

Using Scotland as a bench-mark we can expect savings, discounts, increased customer satisfaction and increased water efficiency.

All of this is positive news for all businesses.

If you would like more advice on these matters, please contact Chorus Business Advisers on 0845 8671263 or email info@chorusadvisers.co.uk for more info.