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15 years of experience
15 years of experience
15 years of experience

14 Aug

How has Brexit affected business energy prices?

by Simon Thompson
 
We have been looking into this as a small energy business based in Manchester. After the shock result of a vote to leave there was an initial spike in  business energy prices, and then a return back to stability after a few days. Here we look into on how BREXIT could affect your energy prices. One of the knock-on effects of the ‘Brexit’ vote to leave the European Union is that energy prices may increase over the coming months with some industry experts believing the rise will be substantial. For businesses of all sizes the added burden of higher energy costs will have a direct impact on profitability and while the UK saw the lowest energy prices for 14 years earlier this year they have grown steadily since then. More worryingly, in the weeks before the referendum took place, energy prices began to rise more quickly which illustrates how unsure of the energy market is of a Brexit. There are also issues over future potential investment in the UK’s energy market which will also have a potential impact on costs to consumers. Business Energy Prices will begin to rise for a number of reasons Businesses need to appreciate that their energy costs will begin to rise for a number of reasons and the most important being that importation costs will rise because these account for a big part of the unit charge for energy. With the rise in transportation costs, there’s no doubt that suppliers will have to increase their fixed rate deals to help cover this rise in costs. The next most important issue is the fall of sterling against the dollar which has a big impact on the price fluctuations of energy being bought – essentially, as the pound falls, energy such as oil and gas becomes more expensive as a result. And these are issues before we even reach the potential problems of a bad winter because being part of the European Union allows us access to extra storage and supplies in other member countries which gives the UK a security of its supply.   Energy suppliers will need to be more reactive   Without this security, energy suppliers will need to be more reactive and also expect to pay what could be a hefty premium for importing energy from countries outside of the EU when demand for it rises among customers. The energy sector is still in a state of flux but businesses need to appreciate also that the energy market supplying the business sector is more reactive and so it will feel any price changes sooner than the domestic energy market. Because of these questions and potentially expensive scenarios, businesses should begin looking at fixing their energy bills, particularly if they are now in their renewal window to see what rates are currently being offered by suppliers before, as many in the sector widely predict, prices will rise. By how much they will rise, no-one quite knows just as they don’t know what the economic impact of Brexit will be but by planning and preparing now for the worst, businesses can protect themselves and enjoy lower energy costs while their competitors and rivals are hit with higher energy bills which will, inevitably, effect their profitability and performance. Contact the business energy experts at D-ENERGi to find out how your firm can protect its energy bills from rising to unsustainable levels in the coming weeks and months with a free consultation.
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21 Jul

How to Compare Business Energy Prices

by Sarah Wilkinson
 
When it comes to keeping the running costs of your business as low as possible, one area that definitely shouldn’t be overlooked is your business energy usage. However, shopping around and comparing energy prices can be a time consuming process, but the rewards of finding a reputable, reliable and great value business energy provider will definitely be worth it. At D ENERGi, we want to help you understand how to compare business energy prices to find the right deal for you. Compare Business Energy Prices Know the Market Business energy prices are subject to a lot more change than domestic rates as they are connected to the daily wholesale price. So when comparing prices it’s important to remember that a quote you get one day, could well be lower or higher a few days later if the wholesale price has changed. Find your benchmark To get a good gauge on the market deals, you need to have a benchmark to work against, so calculating your current energy prices and consumption will give you a good indication of what your requirements are and whether you can save money by switching providers. Don’t be led by price Naturally, no two business requirements are the same and there are numerous variables taken into account by business energy providers to calculate rates. Low rates you see advertised by a provider, may not actually be available to your business and could come with caveats that cost you more in the long run. It’s better to shop around and possibly pay a little more with a reputable company who offer excellent customer service. Go bespoke As so many considerations such as business size, credit rating, location, sector and annual consumption are taken into consideration with business energy rates, it’s always a good idea to get a bespoke quote. While taking the time to contact individual providers may seem arduous over a quick online form, you’ll find that doing a thorough job from the start will save you time and potentially money further down the line. Understand the terms and tariffs With business utilities there are various types of contracts and tariffs you can get with business energy such as rollover, fixed term and 28-day contracts. Also, some contracts can have an agreed rate based on a fixed consumption for the duration of the contract or per year, so can incur additional charges. To ensure you know what you’re signed up for, it’s important to understand the terminology and terms and conditions. By taking all of these aspects into consideration, along with choosing a reputable business energy supplier, you can ensure you find the best possible deal that’s right for your business, saving you time and money that can be better invested into your organisation.
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2 Jun

Half Hourly Electricity: A Full Breakdown

by Sarah Wilkinson
 
Every day in the energy market things are changing, it can get a little frustrating from time to time trying to keep up with the new rules and regulations. We don’t want you to feel left in the dark regarding half hourly meters. Therefore we have tried to break it down as best we can to hopefully ease your mind. Essentially, sites with a pinnacle load above 100kW are required to be introduced to a half hourly (HH). Half hourly meters can also be referred to as 00 meters. HH record data from consumption every 30 minutes – this information is communicated to the Supplier. Half hourly meters can be found in a stretch of economic sites   Ranging from call centres, manufacturing sites, supermarkets all the way to sites which consume as much as places like Manchester Airport, half hourly meters can be found everywhere! Over 160, 000 sites are affected by this so it is definitely worth checking if you are part of this large number, further explanation on finding out how can be found below. If your site requires a HH it is vital you have a Meter Operator (MOP). MOP is an organisation in the energy industry who hold the responsibility for installing and maintaining electricity and gas meters. They also provide the technical meter details to the Data Collector to enable collection of consumption data. A HH Data Collector is in charge of collecting HH consumption data from the meter. The data is then certified and passed to the supplier for billing. HH meters allow you to understand your consumption and provides you with a reliable source of information for your businesses energy management. What more could you ask for? HH meters can be a great way to save your business money for other beneficial investments. Finding out if you have a HH meter is easy. All you have to do is check the number next to your supply number marked ‘S’ – if the number reads 00 then you have a half-hourly meter. Pricing for HH can vary. The following charges may appear on your bill if you have a HH Meter: Energy Charges: based on your usage, usually split between day and night. Once you are on a HH meter, you should never receive an estimated bill. This is measured in kWh. Capacity Charges: this charge relates to the Available Capacity for your site. The Average Capacity is the demand for your site which is agreed with the Distribution Network Operator (DNO) and they ensure this is available to you. Reactive Power Charge: this is the difference between the working power and the total power consumed. If a site has a high reactive power, more current has to flow to provide the same output. This means more capacity has to be provided, potentially increasing costs for DNO.   If you would like to know more about half hourly meters then please do not hesitate to call us on 0800 781 7626 or alternatively take a look at our dedicated half hourly electricity page by following this link: http://www.d-energi.com/products/half-hourly-electricity/
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23 Mar

What Is P272?

by Jordan Garnett
 
What is P272? P27what? You aren’t alone in the dark about P272.  P272 is regarded as one of the biggest shakeups to the business electricity market since deregulation. Sounds more like a character out of star wars,  but here are some facts on P272,  which we have put together hopefully jargon free. If you unsure on how P272 affects your business please do not hesitate to contact us for free on 0800 781 7626, we will be delighted to help you further. You may also like to view our infographic and visit our support page dedicated to the P272 OFGEM legislation. The Facts – What Is P272 P272 is a new regulation which has been implemented by OFGEM. It affects the way suppliers settle electricity consumption for businesses with a specified energy use. Resulting in sites being changed to half hourly. Remember, remember the 5th November… “Guy Fawkes?”. No, no… this is when the P272 migration began! The deadline for all sites to be settled to Half-Hourly is 1st April 2017. Don’t be fooled by the date, it really is 1st April! Also, don’t be put off by the 2017 threat – it’ll be here before you know it! The settlement is being put in place in order for suppliers to balance the amount of energy being purchased from the Generators. The aim for P272 is to make the readings more accurate via the half hourly consumption. This will provide distributors with more understanding on electricity use. This results in networks ensuring they are sufficiently developed and maintained. Ultimately, P272 helps you and your business manage and also use the energy smartly. It gives you the opportunity to see where and when you are consuming energy. Also, a more accurate settlement which could lead to better tariff rates… something nobody would say no to, agreed? Now you (hopefully) have a little more understanding of P272 here is how to prepare: Learn if your portfolio is affected. Speak to your supplier, they will be more than happy to explore your options with you. Select your Half-Hourly Meter and Data Collector. If your business has a maximum demand electricity supply categorised by profile classes: 05 06 07 08 And you have an Automated Meter Reading meter of which is capable of HH data collection and remote programming. Just to let you know… 160,000 sites are affected so it is definitely worth double, maybe even triple checking! “How do I check?!” I hear you say? Simple… you just check the S number at the top of your electricity bill to find out your sites profile class.   Believe it or not, P272 can be very beneficial for you and here’s why: You receive accurate billing It offers you the ability to avoid peak times of electricity use It gives you an insight on your energy usage It allows you to make room for an opportunity of improvement and efficiency REMEMBER… This is an OFGEM regulation affecting ALL maximum demand meters and ALL electricity suppliers equally. If you’re being advised P272 does not affect your business, please let us double check this for you.  
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