The energy landscape is ever evolving and standing charges have become the latest surprise for many customers. As the energy crisis gradually subsides, consumers are now facing a new challenge - dealing with substantial hikes in their standing charges.
At NFU Energy, we've been keeping a close eye on these developments and have previously discussed the Targeted Charging Review (TCR) and the associated banding that was expected to be implemented. But what's become crystal clear over the past few months is the extent to which standing charges have surged, leaving many of you taken aback upon receiving your renewal quotes.
Below is a guide of how it will affect those members who have low voltage HH meters, for high voltage meters, we have seen charges of over £100 per day for band 4 which is a capacity of 1800 + kva. For those with low voltage Half-Hourly (HH) meters, the impact can be observed across different bands, each corresponding to specific capacity levels:
Band 1 (Capacity 1-80 kva): Standing charges are averaging around £6-9 a day.
Band 2 (Capacity 80-150 kva): Expect standing charges to be approximately £10-13 a day.
Band 3 (Capacity 150-231 kva): Standing charges are currently ranging from £19-25 a day.
Band 4 (Capacity 231+ kva): Standing charges are currently ranging from £38-50 a day.
High voltage meters with a capacity of 1800+ kva are facing staggering standing charges, reaching as high as £100-130 a day.
These rates are indicative and can vary, so it's crucial to verify your current capacity and explore the possibility of reducing it before your next contract comes into play. However, keep in mind that this process takes time and requires a lead time of at least a month, preferably more, to ensure smooth transitions.
Act Now - Securing Your Standing Charge Banding
One essential aspect to remember is that once you sign a contract with a particular standing charge banding, it cannot be changed thereafter. This makes it even more crucial for you to address the situation promptly and avoid any unfavourable long-term consequences.
Our Expertise, Your Assurance
At NFU Energy, we understand the complexities of the energy market, and our team is well-equipped to guide you through this challenging period. We've already helped numerous clients navigate the TCR changes and secure reduced standing charge bandings, ensuring they're better prepared for the future.
Don't hesitate to reach out to our commercial sales team at 024 7669 6512 or email us at [email protected] with the subject "TCR Changes" if you believe you fall into a category eligible for a standing charge reduction. Our experts will provide the advice you need to make informed decisions and take control of your energy costs.