The window of opportunity for lower rates in the second half of August was brief as prices moved up strongly through September.
Above average number of price book changes kept GET on their toes to seek out the best deals and act.
October 1st marks the start of the new Energy Year in the world of Gas supply contracts. The market is hoping for a cooling of the high rates currently on offer.
On the back of the recent Ofgem publication to make all meter types for business and domestic half hourly measured, ensuring accuracy of billing.
It should be understood that day and night power rates include charging components for network distribution and transmission, as well as Renewable Obligations, Feed-in-Tariff, Electricity Market Reform: Contract for difference.
What these components all have in common is the ability to influence our energy consumption patterns.
A client cant understand why two his properties standing side by side and with similar annual consumption figures are offered quite different Half Hourly day, night rates. One looks to be very attractive, whilst the other far less so.
The answer lies in the consumption pattens of the two sites. Whilst one has a high usage during office hours and what are described as the peak hours on the Power Network clock 4pm – 7pm, the other site, being an accommodation block has a steady, better spread of usage over a 24 hours period.
Is the latter site that enjoys the attractive rates whilst the office block seems penalised. Advice from the supplier comes by way of suggestion to move their office opening hours !
With the arrival of smart meters and greater awareness of ones power consumption pattern, there may be thought given by businesses to more than just switching lights off when the room is unoccupied.
Late August weakness on the wholesale market finally fed into Supplier price books bringing welcome reductions in prices. Half Hourly rates followed a similar route.
It makes for a busy time at GET as we look to seize the opportunity to secure attractive offers for our clients.