If your business supply agreement with your existing supplier is up for renewal, you are not obligated to automatically renew this contract. You are entitled to seek tender from alternate retailers to negotiate the best deal possible for your business.
As this metering and pricing methodology can be complex, it can make it difficult to ensure that you are receiving the best offers possible. With the difference between a good and bad offer potentially being in the thousands of dollars annually, it pays to get an industry expert to complete a tender process and negotiate on your behalf.
Switchme takes the hassle out of the comparison process and provides you with a full Energy Assessment Report so you can make the best energy decision for your business.
Fill out the quick form below, or call us now.
Call our TOU specialist now:
03 371 9449
Switchme has relationships with all New Zealand energy retailers which means we can provide you with the most comprehensive comparison service for your business.
Why pay hundreds of dollars more for the same service. Switchme provides you with a comprehensive Energy Assessment Report for less than half the price of most Energy Consultants.
This information will be used to determine your total yearly energy usage, and for energy retailer to provide pricing schedule.
Please note that you will need to fill out a separate form for each physical location for which you require pricing.
We will email you a copy of your request outlining the sites being distributed for tender, your confirmation of payment, your reference number and the contact details for the Switchme TOU team.
Within 14 business days, Switchme will provide you with a full Energy Assessment Report which will outline the total yearly energy price for each retailer for each ICP you have provided.
Call Switchme on 03 371 9449 or email us through our Contact Us page. We'll get back to you ASAP!
Unlike a standard metering plan where the consumer pays a fixed amount per unit regardless of the time, month or season or the amount of electricity that is consumed, TOU invoices a different rate for each half hour period of each day of each month. The meter records energy consumption for each half hourly period which are called intervals, and the data is stored electronically along with the date and time of the interval. The rate that is charged for each half hour period depends on the wholesale market unit price for that half hour. The retailer will usually add a fee of 2 to 10 cents per unit on top of the price to contribute to their processing, billing and profit.
If a customer does not want a plan that is dependent on the wholesale spot market, they may request a fixed rate plan where the retailer will offer a half hourly price schedule based upon pre forecast prices. Although this means that the customer avoids the risk of high spot market prices, they lose the potential to make savings during periods of low cost.
The consumer has the ability to manipulate usage to fit low rate periods and obtain low unit rates per kWh. Regular data is available to track consumption, periods of demand and general consumption requirements. This data can also be used to monitor the sites energy efficiency.
There is a potential risk of high spot market prices causing bills to fluctuate and you will be charged large monthly fixed network charges.
Anyone can convert to TOU metering. However it is a case of weighing up the cost of much higher network charges compared to the potential savings in unit prices. There may also be costly pre wiring and switchboard adaption needed. Large industrial businesses who use specific pieces of equipment at certain times that demand a lot of energy to function will generally be using a Time of Use metering system.
Consumers who use the majority of their energy during off-peak hours and wish to take advantage of the lower spot market prices. Customers who wish to record consumption, periods of demand, wattage and power factor for their records.
TOU can be enforced when the demand on the grid is so high that the network must insist on Half Hourly metering to accurately record and charge for the demand and power factor. It may also be insisted upon if your sites amp rating exceeds the networks threshold for being on standard non-half hourly metering, or if the kVa is so high that a normal non-half hourly meter would be unable to function accurately.
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