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