Yü Group PLC, parent company of business gas and electricity supplier, Yü Energy, has announced that it will shortly be entering the business water supply market with the launch of Yü Water. The Nottingham-based business recently received its Water Supply Licence (WSL) from Ofwat, having successfully completed Market Entry Assurance Certification with the market operator, MOSL.
It is currently in the process of signing wholesale supply contracts with a number of water wholesalers across England.
Yü Group is a disruptive brand and is fast gaining a reputation as a supplier of excellence in the commercial gas and power markets, already making itself known as one of the fastest growing business energy suppliers in the UK. The launch of Yü Water will allow businesses to access bespoke utility packages across gas, electricity and water to suit their individual needs and make it easier for them to manage their utilities. It will allow businesses across England (and larger volume water consumers in Wales) to source their gas, electricity and water from one supplier with one point of contact. Yü Group is one of the first suppliers in the UK to offer all of these utilities under one roof.
Commenting on the news, Ofwat senior director Emma Kelso said: “It’s good news to see suppliers bring different areas of expertise to the water market– with Yü Water bringing theirs from a background in energy.”
CEO of Yü Group PLC, Bobby Kalar added “The addition of water utility services to our product portfolio builds on our experience in the energy market for corporate customers and our ability to deliver these utilities with best-in-class customer service. This enables us to offer a bespoke, value-added service to our customers who seek the flexibility of a one-stop-shop for their utility needs. We see long term opportunities for the Company in the water industry.”
The launch of Yü Water follows the de-regulation of the business water market in England in April 2017 which allows eligible non-household customers the opportunity to choose their water retailer for the first time.
The introduction of competition represented the biggest transformational change to the water sector in England since privatisation in 1989 and created the world’s largest competitive water market. The aim is to drive greater competition, the benefits of which will be passed on directly to customers through lower bills, improved customer service and more tailored services such as water efficiency measures.
Yü Energy has become one of the UK’s fastest growing business energy suppliers, supplying thousands of businesses across the UK. It now employs a team of over 100, with revenues forecast to exceed £40m for 2017.
Yü Energy was created with a mission of offering excellent service and competitive fixed energy prices, helping companies to take away the strain of their energy bills so that they can focus on running their business. The launch of Yü Water will allow Yü Group to extend these same principles into the business water market.
For further information, please visit http://yuwater.co.uk/