The Market-Wide Half Hourly Settlement (MHHS) is an upcoming initiative that requires all UK energy suppliers to switch their meter portfolios to half-hourly consumption readings. This program, which has been in discussion for several years, is facing another delay until 2026. The new system will enable more advanced metering technologies, allowing for more accurate and transparent billing. The benefits of this settlement are manifold: greater energy savings for consumers, advanced metering systems that support the move toward a net-zero society, as well as improved orchestration and planning of the energy grid.
Laying the groundwork for the Market-Wide Half Hourly Settlement
Despite the delay until 2026, energy suppliers can still prepare and lay the groundwork for MHHS by fortifying their operations and businesses against the upcoming changes. A key move to get ready for the new settlement would be to start strategizing around new services. By leveraging the existing energy data from smart meters, which is available in intervals longer than half an hour, energy suppliers can gain valuable insights into their customer base.
For example, analyzing smart meter data can help suppliers identify customers with electric vehicles (EVs) or those who might benefit from dynamic tariff programs due to their high consumption. These insights can lead to numerous other use cases that support the new market change. Suppliers can identify customers who could benefit from solar panels, determine high consumption patterns, and understand where the highest consumption is occurring. This data allows them to create informed contracts that leverage the new MHHS scheme.
The role of NET2GRID EnergyAI™
NET2GRID EnergyAI™ plays a crucial role in making sense of data. By analyzing meter data of different granularities, energy suppliers can gain an in-depth understanding of the various customer profiles within their base. NET2GRID EnergyAI™ is an AI-powered SaaS solution that analyzes residential energy data to deliver detailed household energy profiles and insights. Ranging from how energy is utilized in everyday living to details like the peak hours for energy consumption during the day or inefficient household appliances, such profiles give a detailed picture of the end-user energy footprint.The insights stemming from the profiles enhance personalized customer experiences and provide valuable business intelligence.
By preparing now and leveraging tools like NET2GRID EnergyAI™, UK energy suppliers can position themselves to thrive in the new MHHS environment, offering enhanced services and achieving greater efficiency in their operations.
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