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However, while people cannot switch providers, there may be a few practical steps they can take to save on costs.

Myron Jobson, personal finance analyst at interactive investor, unpacked some of the options.

Water meter

If household water usage is low, Mr Jobson states it could be worth getting a water meter installed.

This means individuals pay for the water they use instead of a set price per year based on the rateable value of the property.

For those with a meter, bills will work in a similar way to those issued by energy providers – either by direct debit or payment on receipt of bill.

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