Chester BID business group reduces utility bills by £50,000

The CH1ChesterBID company has helped traders in Chester to cut their bills by £50,000 in two months, since the implementation of the BID initiative in September 1.

The scheme is designed to help businesses access a utility management team to secure cheaper rates on their water, telecoms and energy bills.

24 businesses signed up to the initiative, and have reported average savings of around £2,000.

Chester Business Improvement District includes 500 Chester city centre business, each paying 1% of their rateable value into a central development pot in order to attract customers and boost the city’s profile.

Paul Daniels, chairman of CH1ChesterBID, said:

“One of our five key initiatives is to help city centre businesses save money and we promised to deliver a group procurement and discount scheme that would help them reduce their costs.

“We have already started to deliver on this promise and the service is clearly helping to improve our members’ bottom lines, having delivered cost savings of almost £50,000 in two months.”

With 5% of BID businesses already benefiting from the scheme, there are a further 50 in consultation with InVEW (the utility management company running the service), meaning potential savings could double to £100,000.

Kay Cook, director of QualitySolicitors Oliver & Co (one of the businesses currently benefiting from the scheme), said:

“It really is a fantastic scheme. The whole process was simple and I didn’t realise how much we could actually save by switching.

“I’d urge everyone in the BID area to contact the BID team and see if they can cut their costs too. The service is free, so there’s nothing to lose and lots to gain.”

He added:

“Our progress so far is just the tip of the iceberg – we will increase the benefits of our group procurement and discount scheme and continue to ensure that every BID business has the opportunity to benefit from it.

“Ensuring our city centre businesses keep their operating costs as low as possible will improve profit margins across the city and help us revitalise our high street for years to come.”


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Words: Peter Cribley

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