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.
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.
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