We've explored P272 changes and what they mean for your business energy bill. Read below for more information or click Get a quote to get a better energy deal for your business.
P272 is a mandatory change, introduced by OFGEM, to the way in which AMR (Automated meter reading) meters with a profile class of 05-08 will undergo settlement and billing. They will undergo a change of measurement class (COMC) to become half-hourly (HH) meters.
Almost certainly if on your bill the box circled red has the number 05, 06, 07 or 08.
If you have an affected meter, your supplier is going to have to make sure that it is set up to take half-hourly readings, so that your usage pattern can be billed on actual meter readings.
This also means that your contract structure may need to change. The procurement process is slightly more complicated with Half Hourly meters and a bespoke quote will have to be obtained.
Ofgem has mandated the change from non-half hourly (NHH) settlement to half hourly (HH) settlement in an attempt to create a better-balanced electricity grid in the UK. Suppliers incur a number of charges factored into your current rates, such as transmission and distribution costs (TNUOS and DUOS), for which they are charged different amounts for different times of day. Once your meter is being settled half hourly, suppliers will able to estimate these costs to a better degree and thereby bring down your electricity bills, as a result of this meter profile change.
Depending on your Electricity Distributor and meter type, you may need to agree a supply capacity, as this is a requirement for all half hourly meters. This will be seen on half hourly bills as a new charge that you may not be familiar with. As this charge is currently factored into your rates, this should not affect the price you pay for electricity.
All half hourly contracts also need a Meter Operator (MOP) Contract, for the maintenance of your meter and a Data Collector/Aggregator (DC/DA), to make sure that your readings are collected and sent to your supplier. Make it Cheaper work with a number of suppliers, who can provide these services, and depending on the level of access you want to your consumption data, we have a range of products, which may help give your insight to your energy usage, and thereby reduce it.
This depends on your supplier, but every one of them will need to implement the COMC by 1st April 2017. Many suppliers are looking to make this change as soon as possible so that contracts will not be affected mid-term. Make it Cheaper can help you to clarify your supplier's position and advise and guide you through this change. If your contract is due to end before this date, you will almost certainly have to sign two options, to make sure that your rates are unaffected when the change of measurement class to Half Hourly happens.
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