What is it?
The Electricity Market Reform (EMR) will transform the infrastructure to provide longevity and security as the UK’s electricity market adapts to investment into low carbon generation technology, and moves away from demand on existing electricity infrastructures and reliance on declining domestic fossil fuel reserves. The £110 billion EMR investment will ensure that the UK remains competitive and remains an attractive place for investment into the energy market, increases support into renewable technologies and to reduce UK dependence on international gas and oil market while maintaining a resilient and diverse energy market.
What the changes mean to your organisation?
Ultimately, your energy bills are going to increase! Worry not, Our innovative EMR solution will help you control and reduce your energy::
1. Visualise and control your electricity use
Utilitywise can source contracts that provide with timely, accurate consumption data and maintain your meters. We’ll manage data on your behalf, highlighting anomalies and trends. We can show you exactly what you’re using and provide you with the tools to take control of your consumption. We’ll give you the power to avoid consuming at peak times and reduce usage, lowering your overall costs.
2. Check your energy contract reflects your business
Better data means you can buy better. At your next renewal date we can source a more suitable contract, be it fixed of flexible, based on your full energy profile. EMR is adding extra lines to your bills and not all suppliers are dealing with the new charges in the same way. We’ll take this into account and conduct a thorough analysis of supplier offerings to evaluate all prices, ensuring you can compare like-for-like quotes. We’ll also verify the charges on your invoices and regularly check your bills to make sure they are accurate.
3. Reduce your consumption
We can visit your sites to identify any wastage and look at ways to lower consumption, costs and your carbon footprint. Utilitywise can oversee the implementation of any potential energy saving measures to turn opportunities into reality, as well as help you to manage and monitor the performance of your buildings to increase their energy efficiency.
We’ll keep you up-to-date on EMR and how it affects your business – sign up to our newsletter and download the full 26 page guide to find out more. Utilitywise can also provide you with a bespoke five year energy forecast to assist with your budget an plans for new EMR charges as they start to affect your bills, also taking into account wholesale price forecasts.
The cost to the consumer
The first costs of the scheme have already started appearing on consumer bills. The eventual non-commodity charge to consumers will depend on the final strike price, prevailing wholesale prices, and the volume of power generated under the CfD FiT (Contracts for Difference Feed in Tariffs). The charge already appearing on customers bills mostly reflect the administration costs of the CfD scheme, with higher charges coming through in the subsequent years. Download the full guide to find out more and see if you can avoid the ENR charges.
The interaction of counterparts in the CfC FiT: