One month left of 2017- and what a year it’s been- the year that brought us Article 50 and a snap election full of surprises. It’s also been an eventful year for energy policy- we’ve seen the development of the government’s Industrial Strategy, Clean Growth Strategy, Ofgem’s Targeted Charging Review and the Dieter Helm independent review on energy costs. What will 2018 bring? Well, two things are certain- NEC costs are likely to rise and government policy will continue to evolve to meet the needs of our shifting energy framework.
There is also some reassurance that government, generators and utilities are working to mitigate these rises through regulatory updates and methodologies focused on fairness and value for money, evident in the Autumn budget which sets out the introduction of a new cost control measure on Low Carbon policies (CfD, RO and FIT) and funding to stimulate the Electric Vehicle market.
Key steps to keeping your bills lean
As we approach new year it’s worth reviewing your current consumption - if you can reduce or shift your load during this period you might want to consider participating in next year’s Capacity Market or other Demand Side Response (DSR) schemes.
Secondly, it’s worth reviewing your current tariff and if it would be beneficial to fix the non-energy components of your bill
Lastly, consider how our low carbon agenda and investment in renewables could benefit your business- again, our transition to a low carbon economy will also be likely to influence the price you pay for your energy. Read our Future 2020 report and view our video on the challenges and opportunities ahead for energy.
Bringing you the latest industry updates
We share latest updates on NEC costs via our Talk Power events and webinar programme. Tune in to our webinar on Tuesday 5 December for our latest update
You can also read our quarterly update on NEC costs, Monitor, now live and available to read on Market Insight (simply log in or register to view.
Talk Power Team