Businesses are being urged to shop around to find the best deal to comply with the P272 legislation.
It is a mandatory industry change that affects more than 100,000 businesses in the UK and is aimed at ensuring accurate billing.
The legislation affects those organisations with meters in the 05 to 08 profile class, which must be migrated to half-hourly (HH) billing.
While there are extra costs associated with this change, securing a commercially savvy contract could save between £500 to £600 per meter annually.
Sam Bailey, Customer Relationship Manager at BIU said if organisations don’t act and let their energy suppliers put them on default rate, they could be paying “significantly more” than if they shop around.
She added: “I think people are thinking ‘I don’t need to act now, my suppliers will do that for me’ and they will but it will cost significantly more than getting a direct contract or using a consultant who can negotiate an even better deal for you.”
While the final implementation date is the 17th of April, she is urging businesses to take action now as any meter which is a new acquisition or where the supply contract renews has 45 days from this point to move to HH metering.
Ms Bailey said: “Demand is going to be high so getting the projects off the ground to get the meters migrated could take time and prices could go up. So there is an argument for doing it early even if you don’t need to because you are going to have to pay out at some point and you might as well do it now before the prices go up so you can start getting the advantages HH data can bring to your business.
“Having HH billing gives you a lot better accuracy and information of how you’re using energy and can allow you to put in some demand side response and look at ways to reduce your consumption which is going to give you further savings.”
She added some professional consultants offer services which manage the whole process, including notifying energy suppliers and dealing with the rollout process as well as being able to secure the most commercially attractive contracts on the market.
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