P272 is the industry name of the mandatory regulatory change for electricity meters in classes 05-08 (often called Max Demand Meters) that affects over 100,000 UK businesses. From 1 April 2017, these meters will be billed in a new way.
How will the bill and billing change?
Currently, your supplier bills you based on a single read giving your supplier your annual consumption which is then subject to an industry-agreed calculation based on your meter class. This then gives your supplier a crude picture of when they think you actually use electricity. Your electricity bill is very simple but not reflective of when you really consume electricity.
Going forward, an 05-08 meter will be automatically read every half hour, over the full year, giving your supplier your actual consumption from 17,520 reads. As such your bill will become more accurate but also a lot more complicated and new charges may also appear.
It is also possible that you could be charged more if you use electricity during peak times. The situation is complicated as energy suppliers are approaching the changeover in different ways and the peak times vary depending upon the Distribution Network provider you are linked to.
To make things clearer, Utilitywise have contacted all the Distribution Networks and compiled an easy to understand table of the peak times for each Distribution Network which can be downloaded here.
Will my meter need to be changed?
The majority of 05-08 meters are most likely to be an AMR meter, or in the process of being converted to one, as a result of previous industry regulatory requirements. This means that, in the majority of cases, the meter won’t need any change to be configured for Half Hourly billing. In the rare occurrences where the AMR meter is not configured for HH reads, the supplier should be able to modify this remotely without any change to the meter.
Utilitywise will help you understand the impact of P272 on your business and our services can help put you back in control.
Our P272 Solution gives you:
If you're worried about P272 and the impact it could have on your electricity costs, we can help.
If you have any questions or would like us to get in touch, please contact the Utilitywise team using the form below.