Businesses could save as much as £116 million a year by shopping around for energy meter operators and data collection contractors.
That’s according to energy consultants Inenco, which is calling on firms to be wary of the cost implications of the mandatory industry-wide change to the P272.
Under Ofgem’s regulation, all businesses using electricity meters in profile classes 05-08 must use automated meters, which send regular half-hourly usage data to energy suppliers.
It comes into effect from April 2016 and is said to affect around 160,000 sites.
Inenco is warning companies to take early action to avoid overpaying as they will need an accredited meter operator and data collection agent to maintain and run their meters. It claims businesses could save more than £700 for every metering point.
David Cockshott, Chief Commercial Officer at energy consultancy Inenco said: “Businesses need to get on top of the upcoming changes and more importantly leave themselves enough time to shop around for their Data Collection and Meter Operator contracts. The cost of these services varies greatly but the market is competitive.
“Shopping around for DC and MOP contracts could be a vital cost-saving exercise.”