The P272 scheme is a UK initiative for energy suppliers to switch all larger non-domestic consumers from Max Demand to Half Hourly billing. It is a new piece of legislation created by OFGEM placed on energy suppliers to buy energy to meet their customers’ demand. As part of the process, it’s necessary to determine how much energy each customers uses in each half hour of the day.
This will only affect businesses using electricity meters in industry profile classes 05 – 08. The profile class 05 – 08 will then be reclassified to 00 (00 being the profile class for HH supply). Good news though in most cases, meters can be reprogrammed remotely and no site visit will be required. However, a small proportion of meters will need to be exchanged – this will be confirmed after a visit or analysis by a Meter Operator.
Your price may change slightly, the charges vary by geographical location, metering agent and meter type and is not yet known what the financial impact for these changes for customers will be as of yet. However you will receive more accurate invoices based on the amount of energy used and not estimated.
For more information you can visit the Ofgem’s website frequently asked questions page: https://www.ofgem.gov.uk/publications-and-updates/bsc-modifications-p272-and-p322-frequently-asked-questions
There is a lot of jargon in discussing P272, so here is a little jargon dictionary to help:
If you are unsure whether you are affected and want to find out more, speak to us directly on: 0330 400 5452