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Off-peak business electricity will be cheaper say Ofgem

half hourly meterWith the impending arrival of P272 and P322 legislation, businesses of a certain profile will be required to install a half hourly meter. For more on this, have a look at our article on P322 and P272.

While contract fees for maintenance and data collection may be a chore, it will give your business some real insight into its electricity demand and your peak usage hours.

Even if your business doesn’t fall into the mandatory category, the government is hoping that all SMEs will have smart meters by 2020.

Smart meters will allow your business to take control of its energy consumption and help the suppliers to accurately price your usage.

The costs of buying and transporting electricity vary significantly over the day depending on demand and peak hours so suppliers work out an average cost for day, night and evenings.

Smart meters therefore will ensure your bills are bespoke to your business and what you use.

Suppliers are then able to offer new time-of-use tariffs, where the price varies according to the time of day that electricity is used.

This gives businesses the opportunity to make savings on their bills by using electricity when it is cheapest to supply – for example, when demand is lower or when low-cost renewable electricity is available.

Take up of time-of-use tariffs can also benefit all consumers by strengthening security of supply and by supporting the connection and use of low-carbon generation.

To find out more about half hourly meters, give us a call on 0800 051 5770.