Time of Use Tariffs Blog

Will the new energy tariffs save money?

But how complex will your bill be and how will you know it’s correct?

Time of use energy tariffs are being designed to cut costs for the consumer, but will the consumer be able to understand his bill and check its accuracy? Especially when the bill is calculated based on rates that change at different times of the day!

Will the new 'Time of Use' energy tariffs save consumers money?

The energy landscape is changing in the UK with prices rocketing and new plans to balance public demand. Simple flat rates being phased out for more dynamic ‘Time of Use’ tariffs to encourage us all to make use of cheaper rates at certain times during night or day when demand is at its lowest. We will still be able to use electricity at peak times, but this will be at its most expensive rate. What we need is to manage the grid demand better so customers can have lower energy bills, but will these new ‘Time of Use’ tariffs add complication and risk to accuracy billing for energy providers? Will legacy billing platforms cope with dynamic pricing? Will different time boundaries and rates along with multiple time sources used for billing add challenges for energy suppliers who are used to selling simple flat rate tariffs?

In a recent report by the BBC, The National Grid hoped that plans to offer discounts for consumers if they avoid high-power activities, such as cooking or charging electric cars, when demand is high was something that energy suppliers have been asked to provide feedback on.

https://www.bbc.co.uk/news/business-61949246

Here at Roscom, we have spent years understanding the mechanisms behind the original complex billing from telecom operators with metering, rating and billing of tariffs, bundles and customer invoicing.  On-peak, off peak and boundary crossing over time periods are all factors that need to be considered for billing accuracy. Our all-new Imperium platform offers reconciliations across multiple data sources from different times sources used to assure integrity and revenue billing accuracy. As the UK moves to benefit customers with lower pricing for better smarter usage we are here to help ensure the energy provider is mitigating risk and providing services correctly metered, rated and billed in accordance with OFGEM regulation.

Roscom are UK Regulated Auditory Body approved for testing metering & billing accuracy under the UK OFCOM regulation and have held this approval for over a decade. We will be looking to participate in consultations with OFGEM on how to ensure that ‘Time of Use’ energy billing is best regulated to protect us all.

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