How To Predict Fluctuations In Your Business Energy Bills
Posted on Mar 24, 2023
Planning for the future and predicting what may be coming isn’t an easy task but doing so can help a business financially. Preparing for an increase in costs by knowing when to set higher sales targets and push new marketing campaigns is an element of business that keeps things moving in the right direction. Without financial planning and forecasting a business can quickly find themselves in choppy waters.
Part of any financial planning should be expenses. Part of your expenses each month are your utility bills, of which your energy bills will be some of the biggest. If you run a small business and are directly involved in the payment of your energy bills each month, this blog may help shine some light on how to plan for fluctuations in energy costs and what you can do as a business to predict said fluctuations.
See your average spending with a business smart meter
A smart meter is a really useful tool for not only helping you track your energy usage but also predict how much energy you use on average during various points in your working day. Plus, reviewing the data from your business smart meter will help you identify months in the year where you may be spending more on energy and allow you to make predictions about upcoming months. Of course, this won’t give you an insight into energy wholesale prices or the costs associated with your particular provider, but it helps to give a good idea of what you could be using and spending on average.
Protect your business from volatile energy markets
Now more than ever it has become apparent just how quickly things can change for bill payers. Rising wholesale prices have led to a global energy crisis, hitting business and domestic customers hard. However, for those locked into a fixed-rate contract the impact of this is cushioned by the protection of the consistency of monthly bills. This is because a fixed-rate contract provides a locked-in rate per kilowatt hour.
By securing yourself into a fixed-rate contract with an energy provider, you can help to protect your business from the vulnerability of fluctuating energy markets. Which will allow you to make better predictions for your bills each month, particularly if you manage your energy consumption and use a consistent amount per hour, per day.
At D-ENERGi we offer fixed price electricity deals for business customers so you can know how much you will be paying on your monthly bill, with no nasty surprises! With this deal you can take the worry out of predicting your spending each month, with a direct debit that makes things hassle free! Give us a call today for your free quote.
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
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.
A Russian rocket blasted into space this month to investigate whether any methane gas is present on Mars, as part of the joint ExoMars project created by the European and Russian space agencies.
Methane is a gas created by living microbes, and if it were to be detected it would be a revelation in the space industry as it could prove that life exists or existed on the red planet, some 225 million kilometres away from the Earth (which is itself something of a shock, given that in 2003 Mars was a mere 56 million kms away).
We already know there is life-giving water on Mars. Just like the Earth it has ice caps, although the water they contain is more elusive. The American space agency NASA made a huge discovery in 2006 when it found there was water flowing through the planet in even the hottest months of the year, and that the ‘lines’ that appear on our satellite images of Mars are streaks of flowing salt water.
That’s when the questions ‘did life exist on Mars, and can we find out?’ really started to arise.
The ExoMars project involves sending up a Trace Gas Orbiter to sniff the Martian atmosphere for methane, and if the results are positive then this would establish that methane has been generated via geology or a biological process.
As part of the same mission, a stationary lander called Schiaparelli will test the technology for a subsequent mission – ExoMars 2018 – which will see a UK-built rover collect soil samples filled with water particles and drill below the planet’s surface to look for other signs of life. That’s when the search for Martian life will start in earnest.
These two projects combined will cost an eye-watering £900 million but isn’t it worth it for the chance to make one of the biggest discoveries of all time? What a time to be alive!
Planetary scientist Dr Peter Grindrod, from Birkbeck, University of London, who is funded by the UK Space Agency, certainly thinks so. “It’s incredibly exciting,” he enthused. “This is a series of missions that’s trying to address one of the fundamental questions in science: is there life anywhere else besides the Earth? Finding that life exists elsewhere in the solar system would be a huge discovery, so the evidence has to be strong. As they say, extraordinary claims require extraordinary evidence.”
Wouldn’t it be amazing to find out if there really is Life On Mars, or if there has been in the past. It’s astonishing to think there could be more than just us Earthlings in our solar system!