Water Brokerage & Services: Exploring the Opportunities for Energy Brokers

Water provides brokers with both short- and long-term value 

Since deregulation, Water has become competitive in the same way as Gas and Electricity are.  

So, as with energy contracts, if your customers don’t do anything at the end of their contract, and don’t agree new rates, then they will be put on to what are known as “deemed rates” – which offer no savings and can in fact be quite a bit more expensive than the contracted rates currently available.  

But our dedicated Water Services Team can source and help you compare quotes from our network of suppliers, enabling you to deliver some great savings to your customers by agreeing – or switching to – a new contract. 

Brokers can save their customers an average of between 10-15% by getting quotes from the water suppliers that OnlineDIRECT work with. 

Brokers have the opportunity to seamlessly cross-sell water to their existing customer base by leveraging the best pricing from water suppliers. We have seen brokers who offer a water procurement service to their clients improve retention and deepen these customer relationships. 

OFWAT implemented a non-binding code for TPIs shortly after the water market was deregulated (in April 2017). And although it is non-binding (and therefore not a requirement for those looking to trade), we would recommend that any Broker looking to offer Water Services does sign up as water is a great opportunity for those already working in the energy sector to expand their customer-base, and strengthen their existing portfolio, by offering added value to their dealings.   

Choosing the right water partners 

Before we go any further, let’s just clarify a few things first: The wholesaler is the company that provides the water to your business.  The retailer is who will provide customers with their bills and assist you with any queries that you may have. 

 When it comes to water partners, customers should choose a provider they feel shares their values, gives them the best services, and a great price. But customers should also consider: 

• Is the company committed to doing the right thing?  
• Does it treat its customers well? 
• Does it care about issues relating to water? 

For example, we’re proud to have Everflow as one of our partners as they are a very socially conscious company, investing some of their profits in building wells where there is no access to clean, safe water.  

 “There’s a massive opportunity for customers that still don’t know that they can switch their water supplier. And now, more than ever, is a great opportunity for customers to engage with the market because there are some financial savings to be made.”
– Lois Gill, Everflow Water 

 The importance of businesses becoming more water efficient 

A few years ago, on World Water Day 2021, we spoke to Lois Gill, Head of Regulation & Compliance at Everflow Water, who shared with us just why water efficiency is so important: 

“…what’s probably less known in the UK is that water resources are under stress and there is a threat of water shortages in the next 25 years -especially in the South East. So it’s really important that customers understand that and makes use of the specialist services [like EverFlow] to help them become more water efficient.” 

 You can watch the recap of our conversation in the video below.

Water Services from OnlineDIRECT 

At OnlineDIRECT, in addition to sourcing competitive quotes, we can also arrange water audits, siteworks connections, and even the supply and installation of Automatic Meter Reading (AMR) water meters which allow customers to take regular water meter readings rather than having to wait for the wholesalers to comes and take readings for them. 

We’ve developed our in-house technology and our team to provide a service which is simple, fast and efficient. We offer end-to-end procurement assistance, and our Water Team will work with you to ensure you have all the tools you need to add water to your portfolio of services – including automated renewal reporting.  

With further TPI Commission Transparency regulations coming into effect later this year (October 2024), Water provides a simple way to provide additional value to your customers alongside your existing energy pricing/contracting services. 

Get in touch with our Water Team by calling 01604 201217 to learn more about the services we offer and the potential benefits to you (as a broker), and the savings on offer to your customers, today!