Mr. Moffitt’s Profits Times – March 2017
HOW ARE YOU USING YOUR ENERGY?
Ofgem suggests that society must rethink its approach to energy use. See link: http://theenergyst.com/ofgem-smart-meters-peak-pricing-electricity/
It may also be worth considering adjustments in working hours, see this article by the energyst: http://theenergyst.com/businesses-shutting-down-from-4pm-7pm-due-to-peak-power-costs/
The Government has published guidance about the new minimum efficiency standard for privately rented commercial buildings. This has been welcomed by the industry for providing “vital clarity” to businesses. The energy efficiency regulations mean that private non-domestic landlords must ensure that properties they rent in England and Wales from April 2018 reach an Energy Performance Certificate (EPC) of E before granting a tenancy to new or existing tenants. See edie.net news article: http://www.edie.net/news/6/Commercial-buildings-energy-efficiency-guidance-delivers–vital-clarity–for-business/
Water Market Deregulation
IT’S NEARLY HERE! WATER MARKET DEREGULATION BEGINS NEXT MONTH. I AM INTERESTED TO SEE HOW THIS ALL ROLLS OUT.
A colleague of mine did a “test “water tender recently. He received several quotes in response. Two of them turned out to be higher than the retail tariff. This is not allowed by OFWAT (water regulator).
Also watch out for the water equivalent of “slamming”. This is a term used in Telecoms where a new supplier requests transfer of a supply, and claims that there is already a contract with them.
With electricity and gas contracts, suppliers can object to a transfer if:
- the existing contract must run to the end date
- the client owes the supplier money.
When water contracts come into force this will be slightly different. The water supplier cannot object even if a contract is in place, but they can:
- impose an exit penalty fee
- object if the client owes them money
If you get any unexpected letters requesting the transfer of one or more of your water supplies, then contact your current supplier immediately.
In his Spring Budget, Chancellor of the Exchequer, Philip Hammond said, “The government remains committed to carbon pricing to help decarbonise the power sector. Currently, UK prices are determined by the EU Emissions Trading System and Carbon Price Support. Starting in 2021-22, the government will target a total carbon price and set the specific tax rate at a later date, giving businesses greater clarity on the total price they will pay. Further details on carbon prices for the 2020s will be set out at Autumn Budget 2017.”