5 tips to successfully navigate the Half-Hourly Settlement

How MHHS will transform the UK energy sector

As a UK energy supplier, you have to deal with numerous regulatory obligations and industry standards.

One of the most significant reforms the UK Energy Regulator, Ofgem, is currently implementing is the Market-wide Half-Hourly Settlement (MHHS). This new regulation will require you to enhance your settlement procedures, leading to cost savings for your customers.

MHHS will become a significant driving force for innovation around pricing and billing within the sector.

It is expected that the MHHS implementation will take until October 2025.

By then, most households and small businesses in the UK will have a smart meter installed. This will allow you to read meters automatically and more frequently, leading to more accurate billing.

MHHS will also facilitate the integration of renewable energy sources. It will empower energy suppliers to innovate with more flexible pricing models and prosumer propositions.

In that regard, MHHS is also considered an important enabler in the race to net zero.

How to successfully navigate MHHS: 5 tips

A modern customer information management (CIS) solution can help you successfully navigate the Market-wide Half-Hourly Settlement.

Here are a few examples of how:

1. Automate meter data collection & bill accurately

Smart metering systems, that use AI and IoT technology, can automatically collect data and send it to the back-end system of your CIS. This enables more accurate billing, consumption, and behaviour analysis.

Your CIS can automate the billing process, ensuring that the customers are accurately billed for their energy consumption on a half-hourly basis. It allows a more efficient way of tracking and forecasting revenue based on consumption.

2. Give your customers access to their energy usage and bills

With tools to communicate and engage with your customers more effectively, such as web portals and mobile apps, you can provide transparency and real-time access to energy usage and bills.

3. Recommend tariff options based on your customer’s usage patterns

A modern CIS can analyse your customer’s electricity usage patterns and recommend the most cost-effective tariff options based on their consumption habits. This can help your customers save money on their electricity bills, with a positive impact on customer satisfaction.

4. Track and forecast revenue in real-time

Using advanced analytics will enable you to predict energy consumption patterns and help you proactively manage your energy supply and demand reducing cost to serve.

5. Enjoy effortless compliance

By automating the reporting process and providing real-time visibility into energy usage and customer consumption patterns, you can comply with regulatory requirements.

Overall, a CIS like Itineris’ UMAX can provide you with the most effective tools and capability to manage your data in a complex, heavily regulated industry. The visibility of end-to-end processes, from pricing and contracts to billing and collection and the compliancy with market interaction, allows you to provide an extraordinary level of customer service with a reduced cost to serve. Our experts will be happy to share best practices on how to successfully navigate MHHS.

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