We’ve seen the gradual introduction of half hourly meters giving customers the opportunity to be charged in the most accurate way according to their usage.
Half hourly meter readings will now become mandatory for mid-sized non-domestic customers by April 2016.
Ofgem legislation requires all maximum demand meters within profile class 5-8 which have an automatic meter reading meter fitted to be settled on actual half hourly consumption data.
While many customers will profit from this, it’s reckoned that just as many will see their energy bills rocket. Energy efficiency therefore will be become ever more important to cut costs.
Haven Power’s chief executive Peter Bennell said:
“There are going to be winners and losers, half the customers are going to see cheaper power on average, half are going to see more expensive. Some customers are going to see very substantial increases, and some will see very substantial decreases and as this comes through this will start to strengthen the signals for those that are using power in the most expensive possible way.”
“At the moment you can save a massive proportion by moving the time of day around a bit. Cost savings on stuff that can be moved around can be 40, 50, 60, 70 percent, are quite accessible now. P272 doesn’t stop you doing this now, this is going to force it to happen. Make sure you’re a winner, and if you’re a loser your incentive to do something is going to be bigger.”
We’re not quite so convinced. Once everyone starts to move their usage around, we expect prices will increase across the board. Watch this space…