GLEG

2020 was a challenging year (to say the least) and 2021 has not started much better and the uncertainty in global commodity prices is expected to continue.  With the hope that the vaccine roll-out should allow the UK to return to some sort of pre-covid normality in 2021, the below summarises what to look out for in the utilities industry, how utilities may affect your business and tips to reduce your utility spend through 2021.

What is DCP268?

Businesses with small non-half hourly electricity meters which require manual reads to ensure accurate billing may see a change in how these meters are invoiced from April 2021.

What is Net Zero and why is it so important?

Put simply, Net Zero refers to the balance between the amount of greenhouse gas produced and the amount of greenhouse gas removed from the atmosphere.

GLEG Summary

1. A ban on petrol and diesel car engine sales by 2030. Some Hybrid vehicles will continue to be sold until 2035.  Grants for electric cars and funding for charge points will be provided.

Over the weekend Joe Biden won the US election to become the 46^th President of the United States.  This blog summarises the potential impact of the Biden administration on global energy markets.

Businesses with pass through electricity contracts can influence and reduce bills this winter.

TRIAD’s are the three half-hour periods with the highest system demand between November and February.

The more electricity your business is consuming during these three Triad periods, the higher your business Transmission charges will be.

When discussing utility savings electricity and gas tend to naturally take priority for most businesses as these costs are significantly higher than water.  However, with a very simple and time effective water management strategy businesses can realise very quick and tangible savings. 

How will a 10% reduction in utility costs impact your business profitability?

If your business meets two of the following three criteria you are most likely captured by the compliance.

• Annual turnover of £36 million
• Balance sheet of £18 million or more
• 250 employees or more

There are opportunities for your business to receive rebates and on-going savings on your gas and electricity invoices.

Your business may be eligible for a 100% discount and four-year rebate on your climate change levy and up to an 85% discount on renewable taxes which account for one third of your bills.