Half hourly meters - is your business missing out?
What are half hourly meters?
These meters are designed to capture details about a business's electricity usage automatically every 30 minutes, day and night, relaying the information to the supplier in real time. These meters are exclusively for business's and are not available for residential customers.
What are the benefits of half hourly meters?
- Extremely accurate and up to date meter readings, so you only pay for the electricity you actually use.
- As the readings are submitted automatically, there is no need for you to take and submit meter readings manually, saving you time better used on your business.
- Half hourly customers can have their contracts flexibly tailored to their unique profile
- You can receive detailed breakdowns of when you're using the bulk of your business electricity which may help you be more energy efficient and reduce your usage, saving you money.
Are there any drawbacks to half hourly meters?
There a few things to consider when looking at having a half hourly meter installed:
- With some companies a half hourly meter will include a charge for a meter operator who covers the rental and maintenance of the half hourly meter. This agreement costs from £250.00 to £500.00 per annum depending on factors such as the meter operator and the type of meter.
- Due to the size and scope of most standard half hourly contracts, getting a new contract or renewing an old one can take lightly more time. So don't expect you can get a few quotes today and have the meter up and running by next week.
- Once you have had a half hourly meter installed, most suppliers will not change it to any other type of meter
How can I work out what sort of meter I currently have?
You can identify your electricity supply type by looking at your current bill. Your Meter Point Administration Number (MPAN) or supply number will be shown on your bill. If you do not have a bill your energy supplier or the electricity distributer in your area will be able to tell you what it is. Your meter number starts with an S followed by 21 digits. If the first two digits are 00 you already have a half hourly meter. If the first two digits are anything other than 00 you do not have a half hourly meter.
Should I be using a half hourly meter for my business?
Customers are required to have a half hourly rate meter installed if your electricity demand is 100kW or more in any 30 minute period or if you're renewing your contract and your meter number starts with 05, 06, 07 or 08.This is an obligation deemed by the Balancing and Settlements Code which governs electricity supply and is part of the electricity supply licence conditions. You can also opt to have a meter installed if you have a peak demand in excess of 70kW. You will need to contact your current suppliers and request a half hourly meter installation, they will be able to inform you what sort of contract they can offer you and book in the installation.
Can I swap my half hourly meter for a better deal?
Yes, it is possible to switch half hourly suppliers or tariffs. For the best half hourly rates you need to shop around and get some quotes. It is recommended to start this process about 6 months before your contract is up for renewal. Using a broker in this instance is by far your best bet as they will work with your business needs to find you the best deal.
Half hourly meters are the smart choice for your business, so get a quote today.