Glossary of terms L-N
L
LATE PAYMENT CHARGE
This charge covers additional account management costs as a result of late payment. See our Terms and Conditions of Supply for more details.
LATE PAYMENT INTEREST
Interest charges that can be applied to your account as a result of late payment. See our Terms and Conditions of Supply for more details.
M
MARK TO MARKET (MTM)
Mark to Market (MTM) is the difference between the market and traded value i.e. Mark to Market = Market Value - Traded Value.
MANAGEMENT FEE
Covers our cost for administering and billing your account, as your energy supplier.
METERING SYSTEM
According to Elexon a Metering System means a particular commissioned metering equipment installed for the purposes of measuring the quantities of exports and imports at the boundary point.
WHAT IS A MICROBUSINESS?
A non-domestic consumer is defined as a microbusiness if they meet one of the following criteria:
employs fewer than 10 employees (or their full time equivalent) and has an annual turnover or balance sheet no greater than €2 million; or
uses no more than 100,000 kWh of electricity per year; or
uses no more than 293,000 kWh of gas per year.
Find out more about how we may service our microbusiness customers a little differently here.
WHAT ARE MOP AND DC/DA CHARGES?
The meter operator or MOP charge covers the cost of operating and maintaining your meter(s) at your business.
If you have a Half Hourly (HH) meter, the DC/DA charge reflects the costs associated with collecting and handling your metering data.
You may choose to have a direct contract with a MOP/DC/DA in which case you will pay that party directly for these services. Please contact us if you do have your own contract for these services.
METER POINT AQ
This is the AQ for one Meter Point.
WHAT’S AN MPAN/MPRN SUPPLY NUMBER?
An MPAN or MPRN supply number is a unique reference number your supplier uses to identify your property and meters. It is specific to the property and doesn’t change.
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NET-ZERO
In simple terms, being ‘net-zero’ means balancing the greenhouse gases you put into the atmosphere with those taken out. More and more energy-intensive users and public sector bodies are aligning their environmental targets in line with the UK government's ambition to become net-zero by 2050.
NON-COMMODITY COSTS
Non-commodity costs or charges, sometimes referred to as NCCs, are a mix of costs that do not relate to the wholesale element of your bill. Examples of non-commodity costs include the Renewables Obligation, Feed-in Tariff and DUoS. In the past few years, new charges have been introduced and some non-commodity costs have risen. As a result, non-commodity costs now form a significant part of your energy bill.