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Welcome to the Nü Savings Group ('NSG'), thank you for accessing our website. We hope this information helps and when the right time comes, you will join us on our journey to helping make the world a better place. Our product NSG Energy can assist with procurement and energy audit services.
Most businesses in the United Kingdom are overwhelmed with choices and technical information. We wish to simply business life by taking away this headache. Below, we provide information to help you on your business journey with us.
A business can operate from a home office or a business unit or premises; this can often be found in the high street, a trading estate, or a business park. To save time, if you are interested in our products and services make sure you are responsible for the electricity supply of your business, an agent acting on behalf of the landlord, or the landlord. If you are unsure, we can undertake due diligence on a copy of your lease or tenancy agreement, however, there will be a pre-administration cost for this service.
A Standard Meter uses just one unit register when measuring a business’s electricity consumption in Kilowatts (KW); this means for every unit of energy used, it costs the same; no matter what the time of day. Any Supply Number, known as an MPAN will begin with 03, making them easily identifiable.
ECONOMY 7 ELECTRICITY
An Economy 7 meter is a two-rate electricity meter; with one register measuring your daily consumption (KW) and the second register measuring night-time electricity consumption. The daily usage rate will charge your business a higher price per electricity unit during peak hours (usually 6 am until 5 pm) and the night-time rate will be a lower price for every unit used within an established 7 hour period. The Supply Number will begin with 04.
ECONOMY 10 METERS
Economy 10 meters are two-rate electricity meters, which work in a similar way to Economy 7 meters. However, they operate over a 10 hour period. These meters can allow your business to save more money on its electricity costs during off-peak hours. The hours in which each rate is applied varies between location and energy suppliers, so it’s best to check when comparing business electricity tariffs!
EVENING AND WEEKEND METER
Evening and Weekend meters use a two-rate system when measuring business electricity consumption. However, rather than simply using the hours in a day to determine which rate is applied, they also consider which day your business is using its electricity. These meters use one rate for daytime electricity consumption and a second cheaper rate that is applied during evening hours and on weekends. This type of meter benefits businesses using their electricity during evenings and weekends.
EVENING, WEEKEND AND NIGHT METER
Evening, Weekend, and Night meters use a three energy unit rate to measure electricity usage. Businesses using this meter will be charged a more expensive rate for their daytime electricity consumption, a second rate for their Evening and Weekend usage, and a third rate when using electricity at night. The night-time rate will benefit businesses that operate mostly at night and on the weekends, such as bars, nightclubs, and licensed restaurants.
Legal Disclaimer: The information herein is for prospective clients only, we do not give our consent for this information to be released to rival brokers, consultancies, or suppliers with whom we do not work with. Thank you.
Basics of Business Electricity (I)