Money Saving Expert shared Martin Lewis’ ‘rule of thumb’ for saving money on water bills (Image: Getty)
A financial guru has revealed a straightforward household check that could potentially slash « hundreds of pounds » from your water expenses. This guidance arrives as properties throughout England and Wales brace for yet another tariff increase.
On the Money Saving Expert (MSE) website, established by Martin Lewis, experts have highlighted that water charges are scheduled to rise come April. They stated: « Regulator Ofwat last week announced water bills across England and Wales will go up again this April.
« This is on top of last year’s huge increase (which averaged 26%) – and sadly increases are expected to continue for at least three more years. However, the 5% is an average – there’s huge variance across firms with rises from 0% up to 13% – so check your water firm’s hike. »
Fortunately, the experts have outlined methods to reduce expenditure. « Yet just because the water world is a perverse one with privatisation and no competition, don’t assume there aren’t ways to save, » the MSE website said.
You could « save hundreds of pounds » by following this advice (Image: Getty)
Among these is a principle championed by Martin himself. The guidance suggests initially determining whether your property has more bedrooms than occupants.
Should this be the case, installing a complimentary water meter could prove beneficial. MSE asked: « Can you save £100s with a free water meter?
« Water bills are based on the old pre-1990 rates system, where the amount you pay’s roughly based on your home’s rental value, not your usage. So bigger homes tend to pay more, even if they don’t use much water.
« Yet you can get a free water meter in England and Wales, which measures how much you use and bills you accordingly. Here’s Martin’s simple rule of thumb.. »
The guidance states: « More bedrooms in your home than people (or the same number)? Eg, three bedrooms, two people…there’s a good chance you can save. »
You can verify potential savings using The Consumer Council for Water’s online calculator available here.
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MSE continued: « If the water calc shows savings are likely, but you want a more formal assessment, your water firm can do that. For some, the savings can be massive. »
MSE reader Debbie applied this approach, commenting: « I took your tips on installing a water meter. My Direct Debit has gone from £108 a month to £19, [a £1,068/yr saving]. Thank you, Martin. »
Should you opt for a water meter installation voluntarily, reverting to your previous arrangement remains an option. Generally, you’re afforded a two-year window to make this decision.
MSE explained: « If you voluntarily fit a meter, with most (though not all) firms you’ve up to two years to change your mind and go back for free (see firm-by-firm switch-back policies), so if it doesn’t work for you, don’t worry, » Bear in mind this guidance is relevant to England and Wales exclusively.
MSE noted: « Water charges in Northern Ireland are part of rates. In Scotland they’re part of a ‘combined service charge’ along with other services. While you can have a water meter installed, it’s pricey, so unless you live alone in a manor-type property, estimated payments are cheaper. »
For further details, visit the MSE website here.
