Are your affected sites ready
What the P272 change will mean for customers.
The P272 deadline is just around the corner, however there is still time to appoint a P272 Hourly Meter Operator (MOP) and Data Collector (DC) to ensure your organisation is migrated to Half Hourly (HH) Settlement in time.
P272 is a mandatory industry change that you can’t choose.
If you do nothing your affected sites will automatically be transitioned to your suppliers default service. This may stop you getting the right service for your needs and the right value.
However, you can choose an independent Meter Operator and Data Collector and get the right option for your ongoing P272 Half Hourly services.
Benefits of P272
Half hourly meter reads-Your bill will reflect actual usage providing you with greater billing accuracy.
Energy Efficiency-Customers who invest in energy efficiency technologies will reduce demand at peak periods and benefit from lower bills
Supplier Maintained Networks-Distributors will be able to better understand electricity usage, so they can make sure networks are maintained appropriately.
GET Solutions are available to assist and guide you through the P272 transitional period. If you would like further information or assistance on P272, please contact us or visit the Ofgem website.
Brexit presents prospect of lower energy bills
With the uncertainty that Brexit originally provided and recent issues regarding French Nuclear Reactors helping to drive electricity prices up in recent months, it was certainly welcomed news to hear something positive on the energy horizon this week.
The news came from the business, energy and industrial strategy (BEIS) committee, as it held its second evidence session in an enquiry into the implications for energy and climate change policy of Britain’s withdrawal from the EU.
Stew Horne, energy regulations principal policy manager, Citizens Advice suggested leaving the EU will give the UK scope to cut VAT rates on energy bills, with an estimated saving for the average consumer of £60 per annum.
A VAT cut on energy bills was hyped as a benefit of leaving the EU by Leave campaigners during the referendum.
The Director of the Association for the Conservation of Energy, Joanne Wade, added: prioritising a reduction of VAT on materials rather than bills would bring greater benefits to consumers.
Head of external affairs at the Energy and Utilities Alliance Isaac Occhipinti, also supported cutting VAT rates on energy efficient building materials. He also added, the UK’s exit from the EU would give it the opportunity to rebalance its approach to decarbonisation in order to become less focussed on electricity generation
A New UK & French 1GW inter-connector gets a green light.
It has been announced that a new inter-connector between the UK and France has been given the go ahead and will be developed by National Grid and its French counterpart RTE.
It was feared that the £717 million pound project might not go ahead as RTE had originally applied for approval on the understanding that the UK would remain in the UK.
The decision to go ahead was made by The Commission for the Regulation of Energy (CRE) after a consultation December last year. CRE have stated that the “economic fundamentals of the project remain the same, whether or not the United Kingdom is in the European Union”.
Outline planning permission has been granted subject to the completion of a section 106 agreement by Fareham Borough Council for the project which will run from Chilling near Southampton. The inter-connector is expected to be up and running by 2020.
This project is in addition to a 1.4GW inter-connector between the UK and Norway which was given the green light by Ofgem in June last year, and forms part of plans for a further seven inter-connectors with a total capacity of 7.3GW.
Britain currently has four inter-connectors: a 2GW to France, 1GW to the Netherlands and two 500MW links to Ireland.
Source: Utility Week
UK & Norway Energy Agreement
In an energy forum at Oslo today, the UK Energy Minister Jesse Norman and Norwegian Energy Minister Terje Søviknes affirm the importance of maintaining the momentum of the two countries bilateral energy relationship.
In a joint statement, the two Energy Ministers stated:
“Norway and the United Kingdom share a unique relationship on energy, developed from a long history of close working and innovation across the North Sea.
“Norway is the UK’s most important energy supplier, particularly as an external supplier of gas. British interest in Norwegian gas is set to grow as the UK looks to phase out power generation from unabated coal in the transition to a lower carbon energy mix.
“Electricity interconnection represents an additional feature in our energy partnership. A stable and market based framework for the interconnector development is important to both countries.”
Source: UK Gov.