News
Time to Focus on Heat Network Finances By Gareth Copland, Group Operations Director at Insite Energy
With just over a year until Ofgem takes over as Britain’s heat networks regulator, more stringent legislation is looming. Although the details aren’t yet known, an increased focus on customer protection by heat network providers is certain.
The first stage, due to roll out next spring, will cover metering requirements and safeguards for vulnerable customers. Pricing rules and Guaranteed Standards of Performance (GSOPs) with set compensation levels will follow in 2026 after more stringent data monitoring. Heat suppliers who fail to comply may have to compensate affected consumers.
The financial management of heat networks is a complex matter. Large numbers of properties connected to communal, and individual heating and metering assets, make apportioning costs difficult. And getting it wrong is only going to get more expensive. So, what steps should property managers take now to avoid getting caught out next year?
1. Get the numbers right – It is crucial that charges are set fairly, accurately, and transparently. Ensure you have sound, clearly communicated policies covering all costs, including heat asset maintenance and replacement, metering & billing, debt management, void properties, and administration fees. Your metering & billing provider may be able to help here. 2. Check your meters – Ofgem stipulates the use of smart meters wherever possible.Well maintained meters lead to accurate recovery of heat charges, data to review and address efficiency, and enhanced customer interaction leading to savings. 3. Review your tariffs – In a volatile energy market, tariffs can change frequently. In future, residents may be entitled to 31 days’ notice of price changes, with back-billing limited to 12 months. Monitor customer funds recovered via tariffs versus operational costs regularly. Set financial triggers that lead to a tariff review should you be over or under recovering on a monthly basis.
Long overdue, the heat network sector is entering a new era. The clock is ticking to embed good practice before it’s enforced through penalties.
Believ Makes Senior Appointment to Launch Fully Funded EV Charging Proposition into the Real Estate Sector
Charge Point Operator (CPO) Believ has appointed Craig Butler to the new role of Property and Acquisitions Director to lead the business’ electric vehicle (EV) charging launch into the real estate sector.
Craig joins from commercial real estate and investment firm, CBRE, with more than a decade’s experience in property advisory and asset management.
Believ will use Craig’s experience and network to target freehold and long- lease land and partnership opportunities. The company will offer fully funded EV charge point installation supported by an end-to-end solution that takes property clients from consultation, logistical planning and power solution support, through to installation and ongoing maintenance.
“Our priority is to identify sites that will add long-term commercial and environmental value for the landowner, whilst satisfying the requirements of EV drivers,” says Craig.
“The substantial backing that our Liberty Global and Zouk Capital funding affords us, as well as the scale that our delivery partnership with Virgin Media O2 provides, mean we are in the enviable position to move forward at speed.”
Guy Bartlett, Believ CEO, says Craig is in an ideal position to help Believ differentiate itself in the property sector: “We have a Property and Acquisitions team with more than 30 years’ combined experience capable of driving real value for our customers.”
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