The stark threats of climate change mean there’s a burning platform for innovation in energy services. But are suppliers ready to support the nimble settlement processes required to make sure these innovations are available to the mass market?
Government has recognised that smart energy services which help consumers control their demand and which leverage the potential of distributed energy resources to help balance the grid will play a critical role in the UK’s transition to a net zero carbon economy by 2050.
Energy suppliers have already started developing such services. But to drive further innovation around what’s on offer, and to make sure services are accessible to the mass market, systemic changes to existing billing and settlement processes need reform.
With this in mind, Ofgem is targeting the introduction of mandatory market-wide half hourly settlement by Autumn 2025. But will this shift prove the watershed for energy service innovation that the regulator expects? And will energy retailers be ready to support the demands it will place on their processes and systems?
In a new report created in association with Siemens, Utility Week explores these questions and more. Download now to understand the views of energy retail leaders on:
- Why market-wide half hourly settlement matters to the energy transition
- The challenges they feel it will pose for their businesses
- What steps they are taking to prepare for the transition
- How they believe it could change the dynamic in supplier-consumer relations