The deadline for P272 is fast approaching and it means significant changes for business energy customers with 05-08 electricity meters.
So, first things first, what is P272?
P272 is a piece of legislation in the energy industry that means from the start of April 2017 your business energy bill will have be calculated in a completely different way. Instead of a monthly reading, the electricity meter will send a reading every half an hour. By providing over 17,000 reads in a year, this will mean that your energy supplier will calculate only accurate bills which is good news for the customer. Your supplier has 45 days from the commencement of your new supply agreement to make the relevant changes and a deadline of 1st April 2017.
What does this mean for you and your business?
One of the main changes is that your electricity bill won't look the same and potentially will look a lot more confusing! There will be two charging periods, peak and off peak. And, whilst you could benefit from lower bills by using electricity in the off peak times, there is also the chance of being charged more because you use electricity at peak time. This does get a little more complicated when you consider that there is no uniform way for suppliers to roll this out and no standards for peak times.
How can I minimise the cost impact of P272?
There are a few ways that you can make P272 work for your business:
As meters will now be recording half-hourly readings, everyone will be required to have a MOP, DC and DA contract. These meter operator, data collectors and data aggregators will come with additional charges so it's important to shop around. At amber energy ™ we have trusted partners who provide our customers with competitive rates and a reliable service.
Review your energy portfolio. Our teams are making sure that our client's DNUoS, TNUos and capacity charges are set so that they only have the most competitive and suitable energy contracts.
Make the most of your new data. Our energy services team are always on the ball when it comes to data utilisation and there's so much you can do with this. Access to accurate data means that your business can benefit from more accurate budgeting.
To find out more about the changes just give me an email on email@example.com