Tue 19th April 2016Electricity suppliers failing to make the most of smart meter savings
Energy suppliers are failing to pass on smart meter savings to small and medium-sized businesses. A regulatory change known as P272 is forcing suppliers to bill using smart meter readings, but some businesses may be missing out on the benefits according to Utilitywise, an independent energy consultancy.
Thousands of businesses are already receiving new electricity bills that are based on their actual consumption, not a standard estimated usage profile. However, some suppliers are keeping business customers on fixed rate contracts and failing to pass on potential savings by moving to alternative contract types.
It is estimated 160,000 smart meters will be installed as part of the P272 mandatory change, by the deadline of April 1st 2017.
Jon Ferris, Utilitywise’s strategy director, said: “With the installation of smart meters for businesses now largely complete, energy costs for thousands of businesses are starting to be based on their actual half hourly consumption.
“This will make energy bills extremely accurate – however they could also become a lot more complex.
“Many electricity suppliers are promoting the benefits of more accurate billing and settlement. Unfortunately some – although I stress not all – are failing to promote tariffs that will reward the efforts that many businesses are already making to avoid peak consumption.
“All energy companies must pass on these savings if businesses are to feel the full benefit of smart meters.”
To find out more about how you could be affected by P272 mandatory change please call 0333 000 0132 or email firstname.lastname@example.org.