Following Ofgem’s proposal around impact assessment and consultation into the Market Wide Half Hourly Settlement (MWHHS) across the power retail market last year, the regulator has formally approved its plan. The outlined project will introduce far-reaching shifts to allow a more flexible energy system. In practice, the new meter readings will empower energy suppliers to deliver more innovative services and products as well as enable better use of energy, including Time of Use tariffs (ToU), wider electric vehicle (EV) adoption using the grid, as well as greater battery storage capabilities. Moreover, through implementing MWHHS, net benefits for consumers is predicted to reach between £1.607 billion – £4.557 billion. In light of these inevitable regulatory changes, how can energy suppliers future-proof their organisations?
Current 11th June 2021 read more »