P272 regulations can help control your cost
P272 regulations could affect your business. Changes are on the way which will mean the mandatory use of HH (Half Hourly) data for all Profile Class 05-08 meters by 1st April 2017.
During October 2014 Ofgem approved P272 which will mean that all Non Half Hourly Profile Class 05-08 electricity meters must be moved to the half hourly market. This is to bring large NHH supplies in line with existing HH to improve the consumer experience.
It has created a correlation between the two data environments which has vastly improved efficiency within industry processes. In time, this will also apply to Profile Class meters 03-04 to further support Ofgem’s bid to create a totally consistent smart energy market.
What do P272 regulations mean for your company?
This change means that if your organisation has any advanced Non Half Hourly electricity meters in Profile Class 05-08 then you will now need to go through a Change of Measurement Class (CoMC) to Half Hourly Settlement.
(However, the date that your Profile Class 05-08 meters need to migrate to HH Settlement depends on your supply contract renewal date.)
What is a Half Hourly Settlement?
Settlement is the process used by suppliers to purchase electricity to meet their customers’ demand in each half hour of the day. Currently, if your metering system is 100Kw or above, this is done using actual consumption of data from each half hour period via remote communication with the meter. However, if your metering system is below 100Kw then it is settled using a ‘load profile’, equating your consumption for any given half hour period to common patterns of usage.
In simple terms, after P272, your Profile Class 05-08 meters automatically send actual consumption data to your supplier every half an hour giving a faster and more efficient Settlement.
So why is this better for me?
P272 regulations mean that usage can be better managed. The more accurate the data received by the supplier, the more savings can potentially be made. Because Half Hourly data reflects actual usage rather than an average, it can breathe new and meaningful insights into your energy consumption and how much you use. This new data means that data can be monitored more closely and savings and reductions can be made.
How can you tell if you have Profile Class 05-08 meters installed?
Call us today and see how electricity meter changes could effect you: 0800 9777 000
To find the Profile Class on your bill, look for the ‘Electricity Supply Number’. If this number is from 05-08 inclusive, the meter is included in the CoMC programme.
All relevant metering systems must be migrated to the HH market by 1st April 2017.
Do you need to take action?
Follow our easy flow chart to see if you need to take action now or later. This will differ across different businesses, depending on the supply contract and renewal date.