Are you using a domestic energy profile for your business? If so, there are considerable tax and insurance implications for your business. This article examines why these profiles exist, how to find out if you are using the wrong profile, what to do to change this and how a change would benefit the security of your future contracts.
The original intention of all profiles was to structure pricing and consumption patterns to match the type of electricity usage. Simplistically 01 and 02 profile meters are intended for domestic properties whereas the commercial market starts off with 03 and 04 profiles, which are at the smaller end of business consumers and are typically ‘billed’ quarterly. 05 to 08 profiles inclusive are larger business consumers, billed monthly. There are still particular meters which might have upto 7 different rates based on time of day.The final profile the 00 or ‘half-hourly’ (the meter sends out via a radio signal, a reading every half hour). These are typically high use businesses. continue
Smart Metering is in the news today and the BBC have produced an overview of how a smart meter works in addition to their discussion on how much you can save with a smart meter. Whilst these refer to the domestic market, there is significant relevance for the business market also.
It’s a familiar story; if you can’t measure it or see it, it can be hard to do anything about it. It seems unlikely that energy prices will reduce over time, and this combined with the focus on Carbon Reduction Commitment for all, should make this a very real issue for most businesses.
Empirical research suggests that simply monitoring consumption, improves awareness and typically consumption will fall. Thus at the most basic level smart metering will help. What Smart metering will do above and beyond the basics for business is provide, up to date accurate information about their consumption.