The reason why it happens is that the water rates are a fixed amount each year based on the rateable value of your property. However, if you have a water meter fitted your charges would be based on the amount of water you use.
Most homes can have a meter installed free of charge. The only exception would be when it is unreasonably expensive or impractical for the water company to install a meter. In these circumstances you would need to pay for the installation of the water meter (although the meter itself would be free). If a water meter cannot be fitted then you can still be put on 'assessed' charges.
Certainly, with our water supply company, there is very little risk. They fitted our meter and after six months, if we didn’t see an savings, we could ask to go back on the system based on rateable value.
Check out the Website of you local water supply company. You can also arrange it through USwitch http://www.uswitch.com/ copy