This is an Ofgem approved, industry-wide change to the way electricity is ‘settled’, which is due to become effective by 1st April 2017. ‘Settlement’ is the process where costs are reconciled between customers and suppliers, and between suppliers and generators.
Customers with an electricity meter with Profiles Classes 5-8 and with a Smart meter will be settled on their actual half-hourly (HH) consumption, rather than on an estimate, as it is today.
It will allow a more accurate allocation of costs to suppliers and should allow more reflective charging for customers.
We’re individually contacting all customers who are affected by this change over the next few months.
For more information please visit the Ofgem website here
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