Half Hourly Settlement
Social Energy is a smart energy trading network for solar PV and battery storage customers.
Its ground-breaking AI-powered platform aims to revolutionise the energy industry by empowering homes and businesses to take control of their energy supply. Customers can trade the solar power that they generate and store on their batteries with other network customers, or sell to the National Grid, to maximise their earnings and savings. Social Energy aims to make 100% renewable energy and battery storage commercially viable for everybody.
Within the UK energy industry, Half Hourly Settlement (HHS) is an integral part of our new smarter, more flexible future energy system. HHS is only made possible by smart meters, which can record the amount of energy consumed or exported within every half hour of the day. This provides an opportunity to make the settlement process more accurate and efficient, and act as an enabler for flexible demand that is essential to energy decarbonisation (for example, by supporting use of battery storage and electric vehicles).
In the case of Social Energy, HHS – which provides suppliers and generators with a near real-time picture of energy demand – enables our client to charge its customers’ batteries when electricity is inexpensive and to release power when electricity is more expensive, therefore ensuring that the consumer is getting the best deal. Without HHS on the market, Social Energy would not be able deliver these benefits to its customers.
Our Half-Hourly Settlement service
Through proactive analysis of an energy supplier’s SMETS (smart) metered portfolio, our Half-Hourly Settlement service can intelligently analyse any customer base, giving the visibility and control to select which customers to settle HH. In addition to this, using our smart tariff design we can help suppliers enable their customers to shift electricity use from peak times, balance demand, cut costs and improve efficiency.
With Social Energy’s innovative business model dependent on HHS (along with an increasing number of UK energy suppliers who are today facing much greater consumer demand and market competition for ‘smart’ services), our dedicated offering in this area facilitates our client’s AI platform, which promises to deliver up to 70% cheaper energy which is also 100% renewable.
Settlement service like ours, therefore, are not only essential to the future of energy supply and demand, but also an integral aspect of facilitating the UK government’s target of reaching net-zero carbon emissions by 2050.
The data gained from tracking half-hourly usage enables suppliers to advise consumers of the best times of day to charge their batteries (i.e. at off-peak times during the day when solar generation is high). This helps lower the cost for consumer, reduce related supplier charges, and ultimately helps the grid better match renewable supply with demand – a pre-requisite for decarbonisation.
What our customer says
Our work with energy suppliers
In addition to data settlement, our position as the UK’s leading Meter Asset & Data Services Provider allows us to manage the complete end-to-end process, from smart meter installation and the collection and aggregation of data, all the way through to EHH Settlement, tariff design and Firmware Management.
Our energy supplier customers, including Social Energy, value our one-stop-shop approach to delivering energy solutions. Our flexibility, national coverage, and approach to new technologies and quality assurance are just some of the reasons why we stand out as a first-class service provider in our field.