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P272: How will the changes affect my business?

From 1st April 2017, businesses with an electricity meter in the 05-08 class are going to see some significant changes to how they are billed by their business energy supplier. The new P272 regulations will mean that energy suppliers must collect more detailed data on the amount of energy a business is using, and with more than 100,000 businesses in the United Kingdom currently using a Max Demand Meter, as they are sometimes known, the changes are going to be widespread.

The idea behind the regulations is to bring businesses operating under a Non Half-Hourly (NHH) supply in line with customers giving Half-Hourly (HH) readings. At present, companies using Max Demand Meters provide their supplier with a single reading from which their annual business energy bill is calculated. While this is a simple system, it is also a very inaccurate one, which the move to advanced Automatic Meter Reading (AMR) meters will look to address.

By providing suppliers with a half-hourly update on your company’s energy consumption, energy bills will be calculated with much greater accuracy and businesses will be able to see in much greater detail exactly how much energy they are consuming. In the long-term, this will help business owners pinpoint areas where they could be making savings and cut the amount of energy they use on a daily basis.

While there are plenty of positives in the P272 regulations, the changes can be complex and business owners would be wise to get some advice and guidance on the switch.

Customers who already have an AMR meter can sit back and relax, as these will automatically be converted to make them HH compliant. If, however, your business currently has an 05-08 meter, whilst many will be able to be upgraded remotely, others will need replacing.

The Great Annual Savings Group are experts in the business energy field. We’re here to help your business make considerable savings and ensure you never pay any more than you need to on your business running costs.

With a detailed knowledge of the P272 regulations and what you need to do to comply, we can offer professional advice and guidance on transitioning to the new business energy metering system.

Our Business Cost Savings advisors have extensive contacts within the energy sector, and are ideally placed to find the best energy tariffs for you and your business.

Get in touch today and make sure your business is prepared.

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Paul JohnsonGroup Financial Director

Paul Johnson is very much a home-grown talent.

He joined Great Annual Savings Group in its infancy, fresh from a youth career as a professional footballer with Hartlepool United.  He quickly established a reputation within the business and aced all required accountancy qualifications in the space of four years to become the Group’s Management Accountant.

Several successful projects later, Paul was promoted to Head of Finance.  When the former FD left GAS, he took on the mantle of the business’ most senior finance professional; boasting a string of incredible achievements all under the age of 30.

Quote:

“I have witnessed phenomenal growth at the Group over the many years I’ve worked here and I’m looking forward to guiding the Group into an exciting new chapter.”

Interesting fact:

Paul made his professional debut for Hartlepool United against Bournemouth in the Football League.  Some say Danny Ings still resides in his pocket to this day.