P272 is an Ofgem regulation that changed the way that energy use was billed. They require energy suppliers to use half hourly consumption data to calculate bills using specialist Automatic Meter Reading (AMR) readers. These smart readers allow energy use to be recorded at a more precise level, which gives businesses more detailed business energy use data, potentially leading to cheaper energy contracts, particularly if you use most of your energy outside of peak times.
If you have a maximum demand supply and have an AMR fitted, then P272 regulations may affect you. According to Ofgem:
‘You can find out if you’re affected by looking at the Meter Point Administration Number/ Supply Number on your electricity bill . If the first (two-digit) number, in the box to the immediate right of the ‘S’, is 05, 06, 07 or 08, your supplier’s energy and network costs will be worked out using your half-hourly consumption data. Otherwise, if the number is 01, 02, 03, 04 or 00, you’ll see no difference‘
If you have renewed your energy contract after November 2015, you should have a compliant half hourly meter, and your bills should be calculated using half hourly consumption data. Full implementation is expected to be completed by April 2017.