My background is electrical engineering - power factor correction is used if you have a leading or lagging power factor, basically caused by heavy devices that are inductive such as transformers, motors or reactors. No loading will be pure unity power factor but generally speaking it’s close enough. It can be measured and corrected but then you have the problem of correction when certain equipment is off. Equipment manufacturers try to balance within the equipment these days so most loading will be pretty damn good
I'm on a similar rate to you until September 2023 but a few neighbouring businesses have had to sign new contacts recently and high 70s and low 80s seems to be the norm. Now, I'm not a particularly power hungry business, but multiplying my electricity cost by about 6 will have me considering if it's all worth the aggro. I'm sure a few of the more power hungry around me, such as small takeaways etc will go to the wall as well.The time of enjoying my 15.3p/kWh comes to an end in February
Has anyone managed to get a decent rate? And what is a decent rate now?
Thanks guys
I dont think it will be enough. But from examples put out there the Gov scheme looks like it would cut monthly bill by about 40% or so . That is for those who took out contracts after sept. I've not really heard of real life examples since this scheme put into force. But I suppose its better than no help. For us paying anything more than overall 50p kwh. Would be us going to the wall. I honestly dont know how others in my trade survive with contracts more than that Our margins are low. But unable to put prices up that high to cover cost.. I'm in the fast food trade. It's very turbulent currently to put it mildly and I don't think there will be many left if they coming off a fixed next year.. they will become unviable even if they are successful. Unless energy prices take a significant drop. Other sectors might fair better.
As per my post, I am on a new tariff in March...the scheme ends in March next year. So the gov subsidise "some" of one months electricity and to hell with us after. Not that I want any support mind, I'm not a socialist and I don't generally want my own tax money given back to me less the service charge of it passing through Westminster along its way. I only want a competent government that doesn't tax me so much in the first place and can run a domestic energy policy properly and doesn't do things like announce how wonderful it is for us to be securing fracked gas from America while decimating our own coal, oil and gas with ludicrous taxes, blowing power stations up, or banning it outright...
We have one of those, for many years we didn't realise what that strange unit next to the main incoming switchboard was as we'd sort of forgotten about it. I've no idea if it saves us much but it costs us several hundred quid a year to service it post re-discovery. So I hope it saves us more than that!
Totally agree with what you say. We have a useless inept government. Muddling their way through and now that shit is hitting the fan with strikes and social unrest. Because of the many years of no contingency/foward planning, wasting tax payer money on bad decisions useless projects/policies and blunders. I know pandemic and war isnt their fault but it now seems that it is easier to wash their hands blame all inadequacies that was brewing before covid and pandemic on that.
It all depends on what you have in your premises i.e. machines and motors are a big one. In fact, the only time I ever come across PFC is on large scale industrial type of projects. You may well be paying more (for the servicing) than you are saving by using the PFC.
