The UK Retail Landscape
The UK retail landscape is in constant flux. The high street evolves to accommodate changing trends, and as a ...Read More
If you don’t know much about the different types of electricity meter available for businesses, now’s the time to learn. Having the right type of meter is essential if you want to get the best rates for your company and keep your energy bills as low as possible. Here’s a brief overview of the most common types.
A one-rate meter has a single unit price for all hours of the day and night, so your electricity costs the same amount no matter when you use it. This is the most common type of business meter because it’s best suited to those operating during typical working hours – between 8am and 10pm.
The vast majority of single rate meters are standard meters. A similar alternative, however, is the Maximum Demand 1 Rate Meter, which works in the same way but is designed to accommodate high demand customers.
A two-rate meter has two unit prices, meaning it has two different rates for two distinct periods of the day. This type of meter is great for businesses operating between midnight and 8am, as the period with a cheaper unit price usually occurs during this time. It’s also well-suited to businesses which use night storage heaters.
The Economy 7 meter is the simplest and most common of the two-rate meters. It has a higher rate during daytime hours and a cheaper rate for a 7-hour off-peak period, usually between 11pm and 8am. The Economy 10 works in a very similar way but, as the name indicates, the lower rate lasts for 10 off-peak hours instead.
A slightly more complex type of two-rate meter is an Evening and Weekend meter. In this case, rates vary according to days as well as hours. There is one more expensive rate for the daytime and a second cheaper rate for both evening and weekend usage.
There is also the option of a Maximum Demand 2 Rate Meter for high demand customers operating primarily during evenings and weekends.
A three-rate meter has three unit prices for three distinct periods. This most often means there’s a day rate, an evening/weekend rate, and a night rate. Typically, the day rate is the most expensive, the evening and weekend rate is cheaper, and the night rate costs the least. This type of meter is ideal for nightclubs, and certain pubs and takeaways.
A three-rate meter is also known as an Evening, Weekend and Night meter.
Some meters have even more than two or three rates which depend not only on the time of the day or week, but other factors too.
A Seasonal Time of the Day (SToD) Meter is a complex multi-rate meter with rates which vary according to the time of year, as well as the time of day or week. This type of meter may be appropriate for businesses which have extreme peaks of electricity usage in certain months.
It’s important to note that the type of meter at your business address will determine what electricity tariffs you’re eligible for, so making sure you have the most appropriate meter can be hugely beneficial. If you think your business doesn’t have the type of meter best suited to its energy use, you can contact your electricity supplier to request a change.
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