In the last few months, we have witnessed a lot of volatility in energy rates as COVID-19 continues to impact the worldwide market, as well as the energy market. With prices rising and falling monthly, this year has been quite different to previous years in terms of purchasing energy. Whilst we still have plummeting temperatures and darker nights on the horizon, the scope has somewhat changed this year. With the aviation and hospitality sectors remaining grounded, the expected winter increase in the reliance on gas and electricity is not there. This has impacted and changed the energy markets through 2020.
But be warned, this time of year still coincides with busier trading periods, which means you have less time to focus on saving money and ensuring you are getting the best deals for your electricity. This blog aims to address a few things to be mindful of to ensure your fingers are not burnt, or indeed frozen, over the winter.
MOP and Data Collection Agreements
These contracts are required on all Half Hourly meters and if you do not have your own contract your supplier will arrange one for you but be warned, they charge for this. We advise that every customer with a Half Hourly settled meter arrange their own Data Collection and MOP (Meter Operator Contract) contract. Once you have done this, all you need to do is send your supplier a copy of the countersigned contract, they will then remove this charge from your bill and contact your agent once a month for the usage data to send you an invoice.
It is worth reviewing your Available Supply Capacity (ASC) every couple of years, especially if you think your usage has changed. This is measured in KVA and can be charged on your bill as any of the following:
- Available Capacity charge
- KVA Charge
- Capacity Charge
Simply put… you have an amount of power that is reserved for your use on the grid and is available to you at any time. For this, you pay a monthly fee, usually charged at pounds per KVA per month. If you go over your agreed ASC you will be charged an excess fee, this is usually for the whole month regardless of how long you were over the limit for. If you do not reach the capacity that is put by for you it could be worth reducing your ASC, which will, in turn, reduce the amount you pay for it on a monthly basis. You can change your ASC free of charge once every 12 months by contacting your District Network Operator. Be warned though, if you reduce your ASC and then later need to increase it that may no longer be available for you.
If you would like more advice on this please give the team a call on 024 7669 8885.