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With a cap on energy bills set to be included in the Conservative manifesto, the energy industry have reacted with scepticism of the proposal, declaring that the move would be more damaging to customers in the long term.
The proposal is said to be different from Ed Miliband’s 2015 election pledge, whereby he intended to freeze bills, instead with Ofwat setting limits that would reflect market conditions, and with the market still having an influence.
Energy’s “Big Six” have alleged that capping bills would almost certainly end competition, with fewer people switching suppliers because it would no longer be seen as necessary.
It is widely agreed that switching energy supplier is key to increasing competition and decreasing energy prices. Last year a record 7.7 million people changed their energy supplier, however 56% of households have still never switched.
Full details of the pledge are not yet known, but it is thought the cap would be on standard variable rates, considered the most extortionate tariffs available. In December 2016, Ofgem reported that roughly 66% of consumers are on standard variable rates, paying an average of £141 more a year than if they were on the cheapest deal.
Just earlier this month, market watchdog Ofwat imposed a price cap for households using pre-payment meters. This was prompted by a report from the Competition and Markets Authority which found that customers are overpaying by approximately £1.4 billion.
More than ever, Landlords and Managing Agents are monitoring energy usage of buildings with the desire to save money through increased efficiency. However, simply monitoring consumption cannot provide the whole picture, and the ability to apportion energy is required to ensure fair and accurate tenant billing.
The Heat Network (Metering and Billing) Regulations 2014 confirmed the requirement for an accurate billing process with complete visibility of individual energy usage. Landlords of multi-customer developments, where heat, chill or hot water is supplied through a Heat Network, are required to provide detailed information about the network to tenants. This allows residents to be completely mindful of their usage, creating an incentive to reduce consumption where possible.
For energy apportionment to be implemented successfully, billing solutions are required. At Data Energy, our unique Billing Process offers a range of metering solutions, enabling automatic tenant billing based on individual apportioned energy calculations, as well as bill validation and consumption analysis.
Energy apportionment has proven to be extremely effective in promoting tenant accountability for energy use and one of the best solutions towards achieving greater energy efficiency. Apportionment is not only limited to Heat Networks, but regularly undertaken when an electricity supply needs to be divided between a number of tenants. We can help you with this recharge process.
Why not let us review you arrangements for recharging tenants? This could be for electricity, heat, water or gas, just contact one of our dedicated Energy Managers today for more information.
As you are aware, on the 1st of April the world’s largest competitive water market opened in England, with around 1.2 million businesses, charities and public sector organisations now eligible to switch retailer.
Over 5 years since Defra first proposed non-household retail competition in England in a white paper, eligible customers are now able to choose from over 20 licensed companies to provide an improved service including billing, metering, account management and efficiency advice.
The desired effect of the open market will see customers saving money and water through lower bills and increased water efficiency. Since the water market opened in Scotland, almost 40% of the market has switched over the last 3 years, with the Scottish Government making savings of approximately £40 million.
Concluding the first week of the newly competitive water market, Market Operator Services Ltd (MOSL) have revealed that thousands have already engaged with the market and nearly 9,000 premises have switched retailer.
Cathryn Ross, Ofwat’s Chief Executive said:
“This is a really encouraging start – less than a week in and already we are seeing thousands of customers diving into the new water market. From multi-nationals to micro-businesses – customers are finding the deals that are right for them and they have the confidence to enter the market knowing there is a strong oversight and effective protections in place.”
London RESI Development is celebrating its 10th year as the leading conference for the London Residential Development Market, and Data Energy are excited to be exhibiting.
London RESI Development is being held on the 23 March 2017 at the ETC Venues, St Pauls. The conference promises to be the best to date, attracting hundreds of investors and leading organisations within the sector; combining exceptional networking opportunities and distinctive market analysis.
The conference agenda will bring delegates up to date with major issues within the sector and offer a look into the future of the market, especially considering changes to Senior Government and the new Mayor of London.
The event will examine new legislations, updates in the market and areas of performance through case studies and panel discussions with leading experts within the London Residential Development Market.
We hope you pay us a visit at our exhibition stand, where our Energy Gamechangers will be happy to assist with any questions you may have about our services and products. We look forward to seeing you there!
From 3 April 2017 the non-domestic water market will open to competition, but with just over a month to go, are customers aware that they will have the opportunity to switch supplier with the opportunity to make considerable savings?
Research by Ofwat suggests that just one third of customers are aware of these changes, with two thirds still oblivious to the fact they will be able to switch water supplier from the 3rd of April. In fact, customers may only learn about these changes once they receive a new bill and wonder where it has come from.
The most drastic change in the water industry since privatisation, this development will allow for either negotiation with your existing supplier or the opportunity to select a new supplier altogether.
Small and medium sized businesses will be able to look at who supplies them and decide whether the current agreement best suits their requirements. The smaller user, looking at below 5 mega litres (that’s 5 million cubic litres) of use a year will be able to benefit from:
- Wider choice of tariffs
- Better standard of service
- Tailored service offerings
- Advice on saving water
- Lower prices
Data Energy will be able to help Landlords and Managing Agents make their residents money go further as the ‘closed’ water industry opens up to competition. We will be on hand to help you with specialist advice and support looking to save you time and money.
For more information and advise please contact us on 01279 810 120.
Data Energy’s second exhibition for 2017 will be Ecobuild, held at the London ExCeL Centre from the 7 to the 9 of March 2017.
Ecobuild is the biggest event for professionals in construction, energy and design within the build environment discussing and inspiring solutions towards building better communities.
Attracting senior decision makers and leading minds from within the industry, Ecobuild will explore sustainability, innovation and growth as a priority for associations to make better business choices.
This year, the conference theme will be ‘Regeneration’, focussing on the requirements for success and how to create maintainable communities for healthier, happier people.
Data Energy will be showcasing a wide range of services and products. Come for a chat with our Energy Gamechangers and make sure you don’t miss out on our prize winning game: ‘Beat the Deadline!’
Data Energy are excited to announce that we will be exhibiting at the LEASEHOLD 2017 event; a brand new conference for the Leasehold sector.
LEASEHOLD 2017 is being held at the ETC Venues, St Pauls on the 1st March, bringing together professionals of law, validation and management to debate the upcoming changes facing the leaseholder sector.
The event promises to maximise discussion and to debate the challenges facing specialists focussed on leasehold issues through roundtable debates, panel discussions and networking opportunities.
LEASEHOLD 2017 will be attended by key speakers and leading minds within the UK industry driving the necessary reform of leasehold law within the sector; a fantastic opportunity to keep up to speed with crucial advances impacting Managing Agents, Housing Associations, Surveyors, Estate Agents and Valuers.
We hope that you will come and see us at our exhibition stand, where our Energy Gamechangers will be showcasing our services and products.