Energy Update
Market Update
The increase in the domestic price cap from October has received plenty of coverage in the media, as projected costs are anticipated to increase by around 10% for a typical household. It is important to remember that the domestic price cap is set quarterly and that wholesale energy in the autumn/winter months is inherently more expensive than summer, due to the increased demand for heating and lighting. There are also many other factors that can impact wholesale energy markets, and the current unstable geopolitical situation in some parts of the world means markets remain nervous about any potential impact this may have on energy supply. The conflict between Russia and Ukraine is ongoing and the risk of damage to key energy infrastructure remains, although Europe is now far less dependent on gas supplied via Russia. In the Middle East, an escalation in the regional tensions could disrupt the transportation of oil and gas at a time when Europe is more reliant on supplies from the region due to taking fewer deliveries from Russia.
However, unlike in 2022, Europe is better prepared and already has a significant amount of gas in storage, with stores already at 92% capacity by the end of August this year. This should cushion the impact of any short-term disruptions in supply and mean that a severe price spike in wholesale markets should be avoided. The Energy Team at ESPO will be closely monitoring the market for our customers and will be watching prices not only for this winter, but for how events could impact prices for 2025 and 2026. This will allow us to keep customers informed and hedge some of the energy costs to limit exposure to any price increases.
Don’t forget: your power prices change on October 1 2024! New pricing notifications will be sent out via a third party; you can expect to receive an email from latest@edwpsdigital.co.uk before your first bill on your new rates land!
Staff Changes
Simon Li joined the ESPO Energy Team back in May 2024 as a Contract Support Officer. Simon replaces Jamie Taylor who has moved into a Customer Relationship Advisor role, supporting new customers joining ESPO! We’re sure you’ve heard from Simon by now and you can reach him from our central inbox: energy@espo.org.
We are sad to announce that Rowena Reid will leave the ESPO Energy Team on September 17 2024; however, she will be replaced by Rachael Perrina. Rachael has a strong energy background and joins us from Opus Energy where she has worked for the past 13 years - welcome to the team Rachael!
Jorge Sepulveda has also left Total Energies. Jorge was the Team Manager for the ESPO Servicing Team. Jorge is replaced by Sarah-Jane Greene, who has worked for Total Energies since 2019 in a similar role supporting other public sector frameworks.
Project 434
A reminder of what Project 434 is:
This Modification will require a mandatory Change of Measurement Class (CoMC) for all Non-HalfHourly (NHH) Unmetered Supplies (UMS) to HalfHourly (HH) Unmetered Supplies (UMS) to be complete by October 2024!
To enable Total Energies to meet this deadline, we have provided all decisions on how best to combine or upgrade the NHH UMS (Non-HalfHourly Unmetered Supplies) by August 16 2024.
All decisions have been loaded into tranches. Total Energies can only run these changes on the 1st of the month, so you can expect your metering changes to take place on 1 October if they haven’t yet been completed.
You will be informed once the changes have taken place, as and when ESPO receive communication from Total Energies.
Market Wide Half-Hourly Settlement
Project 434 was just paving the way for the start of something bigger.
Ofgem announced that that Non-Half-Hourly (NHH) settled meters will need to be upgraded to become Half-Hourly (HH) settled meters by December 2026. This project will begin in October 2024; the initial stage will see access to more data, with the physical database changes likely to take place in 2025.
You can read Total Energies’ informative blog.
RTS (Radio Teleswitch) Electricity Meter Power Down
This type of electricity meter uses a radio signal to switch between off-peak and peak rates. The service that provides the radio signal for them is being switched off in March 2025, which effectively means that these meters will no longer function! It’s important to note though, that doesn’t affect all our customers, but a select few that have these meters. If affected, rest assured Total Energies communication will be in your inbox soon!
Alternatively, this handy blog by Total Energies will tell you how to figure out if you do have an RTS meter and contains a whole host of information here
2G (GSM) Phase Out
As you may have seen in the media, the UK telecoms network is being updated.
Mobile Network Operators (MNOs) globally are phasing out 2G networks (also known as GSM), which are outdated, costly to maintain and are occupying bandwidth that could be utilised for more modern 4G and 5G services.
From 2025 onwards, network providers are phasing out 2G masts and communications all together.
We have a number of meters still communicating usage using the 2G GSM method; if you have been affected by this, you should have received an email from us on September 9th. You’ll need either a new communication (comms) line or a whole new meter. Siemens will visit sites to attempt this work prior to the cut-off date of 31st December 2024; however, if you’d prefer to book an appointment that suits your organisation, you can call them on 0345 266 0551.
Please note that if the work has not been completed by the cut-off date, your meter could stop communicating the data consumption. This may result in additional charges to retrieve the data and estimated bills.
