Anglian Water says it will look again at the pricing structure after hundreds of people backed the Mercury's campaign to reinstate a short stay charge.
The company abolished the £1 short stay parking rate to raise more money for the upkeep of the facilities and nature reserve at Rutland Water. The £3 all-day parking rate has not changed.
But the firm says local people will get better value if they buy a season ticket for £30 which can also be used at Graffham Water, Alton Water near Ipswich and Brixworth Country Park on the shores of Pitsford Water.
Recreation and access manager Jake Williams, who is based at Wing, said: "We hoped the change would not hit local people – we hoped we would be charging the tourists, not the locals.
"The last thing we want to do is to lose visitors and business. In fact we are looking at ways to increase visitor numbers."
Although Anglian Water reported a £4m rise in profits in the six months to September 30 2007, it is not allowed to use revenue from water bills to subsidise leisure facilities. It says it spends more money than it generates at Rutland Water and needs to find a way to reduce the shortfall. Changing the parking price structure is a way of increasing revenue.
One of the facilities it funds at Rutland Water is the county's only tourist information centre.
Mr Williams said: "We believe we are offering good value. We want to provide the services but we have to make sure that the income we generate is a fair contribution to the costs of running the facilities."
Talks have been under way with businesses at Rutland Water since February but the traders still fear the parking charges will have a devastating effect on businesses.
Tim Harris, manager of Rutland Cycles at Whitwell, suggested a £3.50 all-day charge could increase revenue with the £1 short stay charge still in place.
Adrian Chappell, who runs catering kiosks in each of the Rutland Water car parks, said: "We do understand the need for them to increase their revenue, but at Carsington Water in Derbyshire, for example, they charge £1.50 for up to two hours and £3.50 for all day."
Anglian Water says reviewing the charges in the autumn will allow time for them to bed in.
To fill in a coupon and support the campaign, click here