Organisations Looking to Compare Business Energy Prices For Lower Bills
Posted on Mar 15, 2017
For organisations looking to compare business energy prices for lower bills also means understanding half-hour electricity prices.
That’s because the industry has switched from using traditional meters to using half-hourly meters, or HH meters.
The new electricity meters will send accurate electricity usage readings to the supplier every half-hour.
All businesses have either moved to the new half hourly meters or will be doing so very shortly, and they are connected by a phone line to send the updates to the supplier so there’s no longer any need to worry about accurate meter readings.
The other reason for installing these new metres is they monitor energy usage and offer a detailed breakdown of how much energy the firm is using and, importantly, when they are using it.
Part of this aim is to help an organisation to become as energy-efficient as is possible.
How to compare business electricity tariffs
The other aim is to highlight how to compare business electricity tariffs with the potential for switching to lower energy deals, particularly if they are big users of energy during off-peak periods, for instance.
The easy way to find out whether the firm is using a half-hour meter already, then their most recent energy bill will have an ‘S number’ on it to designate the meter.
Basically, if the top left number on the energy built reads ‘oo’ then the business has a half-hourly meter installed.
The other upside to using these meters is that there are software packages available that will create an alert should the business or one of their premises see their usage go over a determined threshold.
It’s also possible to look at the historical data to find out where savings can be made and see where the biggest users are.
Also, for firms who have not made the switch to HH meters they must have done so by April 2017 if their meter’s profile class is 05, 06, 07 or 08. If not, they must contact their energy supplier as soon as possible.
Compare business gas and electricity prices
While having the information from a half hourly meter is important for analysing usage, the firm also needs to bear in mind that there’s only a limited window of opportunity to switch energy suppliers and access cheaper tariffs after they compare business gas and electricity prices.
They will not be able to switch suppliers mid-contract and the current supplier may lodge an objection if there is money outstanding on a bill.
However, HH meters will help a potential new supplier to tailor a bespoke offering that will better meet the firm’s needs and be cheaper as well.
The other big reason for having a half hourly meter installed for business is that it should encourage them to take a closer look at how much energy they are using, when they are using it and, crucially, how much they are paying for their energy.
Armed with this information they then can search the market for a cheaper business energy supplier and see their bills fall as a result.
Indeed, estimates as to how much a firm can save by switching suppliers vary but could be up to 40% which could see some firms saving hundreds if not thousands of pounds every year.
The government and the industry regulator Ofgem are keen to increase competition in the market which will also lead to lower prices as energy suppliers compete to meet business needs.
Installation of half hourly meters is increasingly important
As a result, the installation of half hourly meters is increasingly important and firms should use the information supplied to their own advantage.
One quick way to see whether they are paying more than they need to for their business energy needs is to check business comparison websites on a regular basis to see what other suppliers may offer to have them as a customer.
However, the firm will need to bear in mind that finding a like-for-like quote is difficult since the energy supplier will offer a bespoke tariff to help meet the firm’s needs.
The other big attraction for moving to half hourly metering is that it offers firms with several sites or premises to have one bill supplied for all of their energy needs.
They can still monitor energy usage remotely but deal with a supplier to cover all of their needs.
There’s a lot to recommend using half-hourly meters but the main one is to help lower the firm’s overheads and access cheaper energy bills.
For more information about how to compare business energy prices and why half hourly meters will help, then the team of experts that D-Energi will be able to assist with any questions.