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This article explains what P272 is, how it makes your energy bills more accurate and how this impacts your business.
If you’re paying too much for energy, you could save as much as £970* a year just by switching utilities.
P272 is a mandatory change, introduced by OFGEM, to the way AMR (Automated Meter Readings) are collected. From now on, if you have an AMR meter with a profile class of 05-08, your readings will be taken every half an hour to ensure your bills are more accurate.
If on your bill, the below number circled in red is 05, 06, 07 or 08 your meter readings will be changed to half-hourly as part of P272:
As your meter is set up to take half-hourly readings, you’ll be billed on actual meter readings so your bills will become more accurate.
All half-hourly contracts need a Meter Operator (MOP) Contract, to ensure your readings are collected and sent to your supplier. We work with a number of suppliers who can provide these services, so call us on 0800 970 0077 to find out more.
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.
There are a number of charges factored into your energy rates, such as transmission and distribution costs. For these, suppliers are charged different amounts depending on the time of day. With half-hourly meter readings, suppliers can estimate these costs more accurately, which could potentially reduce your energy bills.
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. Although this will be seen on your bills as a new charge, it’s currently factored into your rates so won’t affect the overall price.