Jargon Buster

Deemed Rate

A deemed rate is applied by a supplier for any energy that is used when a contract is not completed. This is usually a 30 day rolling rate that can fluctuate. This is not to be confused with a variable price plan (VVP) which can fluctuate regularly. Deemed rates are generally much more expensive therefore it is advisable not to allow your contract to run its course without agreeing another up to one year prior to the end date.

Half Hourly Meter

A half hourly meter is a smart meter that uses an automatic meter reading to take accurate electricity reading. he system relies on a fixed line, which it uses to send updated meter reads to the energy supplier every half hour.

BS 7671

‘British Standard (7671) The Wiring Regulations’, this document details the British Standard that all electrical installation work must adhere to.

Prepayment Meters

If you are on one of these meters then you can pay for your energy up front as opposed to on credit. You will often pay higher rates on these type of meters.

capped plans

These plans are similar to fixed rate plans and guarantee that the price you pay for energy will not go up for a fixed amount of time. They differ from fixed rate plans because they allow your rate to fall if gas or electricity prices go down.

dcp161

What is DCP161? The introduction of DCP161 means you could face heavy penalties.changes the Distribution Connection and Use of System Agreement (DCUSA) and will introduce Excess Capacity penalties for Half Hourly (HH) electricity supplies. The dcp161 was introduced in 2018 by Ofgem to offset the costs that Distribution Network Operators (DNOs) incur when customers exceed their available capacity levels.

CNG

compressed natural gas is a fuel that can be used in place of gasoline, diesel fuel and liquefied petroleum gas. CNG combustion produces fewer undesirable gases than aforementioned fuels.

The Word

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CFD (Contracts for Difference)

Therms

The Transporter is the company that transports gas from the coastal delivery facilities (where gas comes ashore to consumers) on behalf of the shippers. All gas in the UK is transported by one of the Regional Gas Distribution Networks.

Regulator

Ofgem regulates the gas and electricity industries in Great Britain. Ofgem is governed by an authority and its powers are provided for under the Gas Act 1986, the Electricity Act 1989 and the Utilities Act 2000. Everything that Ofgem does is designed to promote and protect the interests of gas and electricity customers.

Correction factor

The correction factor is used to take account of the temperature and atmospheric conditions at a site. It is generally of the order of 1.02264.