An ever-increasing number of large corporates are responding to pressure from investors, customers and the wider stakeholders’ community by making highly visible commitments to decarbonize. This accelerating trend is in turn increasing the demand for finance-grade greenhouse gas (GHG) accounting to underpin not only emissions disclosures but also wider efforts to develop sustainable Environmental, Social and Governance (ESG) strategies.
The P272 regulation affects organisations in the UK who have electricity meters in profile classes 05-08. By 1st April 2017, all these meters will need to be migrated from NHH (Non-Half-Hourly) to HH (Half-Hourly), enabling the capability to bill on HH consumption data.
Any supply contract renewed any time after 5th November 2015 must be settled using HH consumption within a 45-day period from the contract start date, with all meters being migrated by 1st April 2017.
In line with the government-stated intention to reduce the impact of renewables policies for most Energy-intensive Industries (EIIs) and safeguard their competitiveness internationally, from April 2017 EIIs will be exempt from a significant proportion of the costs of the Renewables Obligation (RO) and the Small Scale Feed-in Tariff (ss-FiT).
Subject to state aid approval, companies operating in sectors such as steel, chemicals, engineering, brick making, metal casting, heavy manufacturing, and mining will benefit from this exemption, but non-exempt customers will pay extra to cover the shortfall.