There is no question that the coronavirus pandemic is one that has stretched all across the world, and its global impact can be felt everywhere. So many businesses and workers are suffering as a result, unemployment figures have risen as many people have been faced with redundancies. Businesses have been hit hard, with some having to close entirely, and others needing to furlough staff and temporarily cease operations.
This is a big issue, and one that is going to adversely impact you in the water industry. There are a lot of things to keep in mind here, and meter readings are one of the key things that is has been impacted by this global pandemic. This can have long lasting repercussions for both water retailers and customers alike, and this is why it is important to make sure you understand what this means moving forward.
No Readings
Of course, with things as they currently are right now, it is important to look at some of the best ways of being able to help businesses out as much as possible. The market operator MOSL and regulator Ofwat have acted decisively and quickly to introduce a moratorium on penalties for long unread meters. This is largely to do with the fact that no meter readings have been taken, and this is due to the global pandemic that is currently taking place moving forward.
On the plus side, MOSL and Ofwat have stopped any fines, as well as waiving performance charges, and taking steps to provide relief on late payments. And this is, of course, a huge positive for retailers and wholesalers. However, there are also potential ramifications that need to be accounted for, and these can have a massive impact on the future. So, let’s look a little deeper into what might happen with this moving forward.
The Future
Now, the issue here is that there are a lot of potential problems that might well impact the industry in the future moving forward. For instance, when all of this blows over and businesses are back to normal, there is a chance that some businesses might be shocked when there next bill lands. Regular estimates are based on previous normal consumption, but, due to COVID-19 and the lockdowns, this means the estimates could be far too high. This could be bad news for the retailers, and leads to ad hoc readings, additional pressure on existing meter read suppliers and an increased cost to serve.
It also means that there is a chance that water retailers will not be getting the payments they need as well. And it’s worth remembering that it is a tough time for these guys as well, so that is something that needs to be kept under consideration. The issue is that businesses are unlikely to be happy paying estimates based on the fact that their usage was impacted significantly by COVID-19.
What This Means
Well, the upshot is that a concentrated post-lockdown meter reading project could help solve this issue, and account for the fact that businesses were not operating, and thus consumption patterns could well have changed as a result. This is the best approach to take when it comes to helping deal with this problem, and it is important to find the right solution that can help you with this moving forward.
It is a delicate time for businesses all across the world, and time needs to be taken to account for the fact that many companies and brands are going to be struggling. Compassion is important, and there needs to be a degree of fairness moving forward. There are a lot of financial implications that are going to negatively impact companies, both in and out of the water servicing industry. And the faster steps are taken to deal with this, the better. This is why companies like ours are essential; we are experts in special projects, and so we can target high-risk or high profile customers and ensure they get the correct readings whenever they need them.
This is a critical time for MOSL and the water supply industry, and there are many things happening now that can make or break businesses, on both sides of the fence. So, there are a lot of aspects you are going to need to keep in mind when it comes to looking after the future of your business. Meter reading in the immediate aftermath of COVID-19 could well look very different, and this remains to be seen. But, it is certainly clear that steps need to be taken to deal with this in the best possible way moving forward.
Download our case studies to find out how Occutrace helps our customers in finding and resolving the long unread meters.