1. Lacey Montague discusses the UK electricity industry undergoing significant changes with the rollout of the national Market-wide Half-Hourly Settlement (MHHS) program.
2. The MHHS program aims to use actual half-hourly data for settlement, providing more accurate insights to consumers and utilities.
3. The data revolution enabled by MHHS unlocks opportunities for new technology and innovative products to help businesses and individuals better manage their energy consumption and support a sustainable future.
Lacey Montague, Chief Strategy Officer at IMServ, discusses the significant changes happening in the UK electricity industry with the implementation of the Market-wide Half-Hourly Settlement (MHHS) program. The transition towards more granular electricity data started with the smart meter rollout in 2011, providing consumers with usage information at half-hourly intervals. The MHHS program aims to use actual half-hourly data for settlement, shortening the settlement window from 14 months to four, and offering greater insights to consumers and utilities.
With the increasing electrification of transport and heating, electricity consumption in the UK is forecasted to rise significantly in the coming years. The challenge will be to manage this increased demand while ensuring the stability of the grid. The MHHS program is seen as a solution to operate responsive tariffs based on real-time data, allowing for tailored pricing at the meter level. This approach can help manage consumption behaviors, integrate the energy system efficiently, and support the transition to a low-carbon future.
By leveraging accurate and frequent settlement data, opportunities for new technologies and innovative products emerge in the energy sector. IMServ is actively exploring ways to utilize data to create new services, reduce costs, and help businesses better manage their energy consumption. The focus is on building a collaborative ecosystem of partners to drive sustainability and achieve net-zero goals in the industry.