Introduced by Ofgem as part of their 2021/22 Forward Work Programme, the Market-wide Half-Hourly Settlement reform (MHHS) is a key priority as part of a strategic plan for providing flexible solutions to support the UK’s drive towards a Net Zero future. The MHHS programme introduces site-specific reconciliation using half-hourly meter readings with the objective to enable a smarter, faster, and more flexible energy system, with a more accurate settlement process to benefit all market participants.
The responsibility to deliver the MHHS programme falls to every player within the energy industry and whilst the ultimate goal is to collectively achieve a better, greener, and more sustainable future for all, the challenging targets of Net Zero will bring monumental changes to the industry including mounting pressure to energy suppliers who will face an enormous amount of additional generated data.
With over thirty years of experience working with clients in the energy industry, and as a specialist team of highly analytical industry experts, we understand the opportunities and challenges modern technology creates. We also understand the vital need for businesses to continue to adapt in an already highly complex and volatile market. Current energy suppliers struggle to manage, analyse or even extract any useful insights from energy data due to restrictive applications which typically inhibit viewing or accessing data at its most granular level. Supplying sites without a fully competent and compatible system in place combined with the inability to process data at a higher level of granularity puts electricity supply companies at risk of restricting the type of customer they can supply and at worst, exposure to serious financial risk with potential revenue leakage. A risk not worth taking in this current volatile climate.
At Phidex, we believe that the key to empowering strategic and proactive decision-making at the right place and at the right time relies on being able to view and have access to data at its most granular level and this means investing in necessary tools that allow suppliers to adapt and be ready for the changing environment.
Using advanced energy data technology, our suite of highly innovative data management software solutions is designed to do just that. Delivering market-wide, half-hourly data for optimum precision, our software solutions provide our clients with access to unrestricted data at its most granular level giving you full transparency, flexibility, and control of your data - the key to powering your data, performance, and profitability.
Our software services and expert support include:
Phidex - Pricing Engine
Our flexible pricing solution is designed to provide intelligence, scalability, and most importantly, complete control of all price components for precision and transparency.
Phidex - Flow Manager
Our flexible all-in-one platform provides you with unrestricted access to manage complex industry flows and internal data with ease. It is the foundation for all Phidex data processing functions; Pricing, Registrations, Metering, Financial Reporting, and Settlements.
Our Consultancy Services
Through our honest, transparent, and collaborative approach, our team of specialist consultants becomes an extension of your team, sharing expertise and delivering practical, cost-effective, and bespoke solutions to strengthen the overall performance of your business.
As part of our collective responsibility toward a Net Zero future, we are committed to supporting you on the journey, helping you adapt and thrive as an energy supply business along the way.
It doesn’t have to be complicated. Contact us at info@phidex.com to begin the journey to building and investing in a better future today.