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April 10, 2024Elexon, the UK electricity regulator, has a introduced a change called P432 as the next stage of the programme to implement half hourly settlement meters across the UK electricity network. P432 means that from 1st April 2024, all new Current Transformer (CT) Advanced meters must be treated as Half Hourly (HH) for settlement and billing. If your business has non-half hourly Current Transformer meters they will need to be updated to work by March 2026.
P432: Why is it being implemented now?
P432 is a modification by Elexon that will ensure all Current Transformer (CT) Advanced meters are settled Half Hourly. The broader programme to deliver half hourly settlement across the Grid is called the Market-wide Half-Hourly Settlement, or MHHS as an acronym. CT Advanced Meters are a large risk in the Grid migrating to MHHS which is why these meters are being targeted now.
We do understand you may not know whether your business is impacted. Please contact GLEG directly to understand whether your business is impacted. Our expert team will then identify which meters are impacted and arrange the change to Half Hourly Settlements accordingly.
How does P432 impact me and my business?
Visibility and transparency of when and where electricity is consumed at meter level not only adds value to businesses to identify wastage and savings opportunities within the business, but it will also ensure the UK has tangible visibility of how electricity is used and accounted for across the Grid.
The deadline for implementation of the meter upgrades is March 2026.
Once upgraded, rather than providing meter reads monthly, you will have visibility of when, where and how your business is consuming electricity in addition to bills based on actual consumption rather estimates. This is also vital for accurate carbon reporting as part of sustainability and Net Zero journeys.
Most meters will not require a physical exchange which would cause a supply interruption and business down-time. Most meters can be reconfigured remotely, our team here at GLEG will advise you accordingly.
Please contact hello@gleg.co.uk if you are unsure whether your business is impacted by this new legislation. A member of the team will analyse your meter portfolio to advise and arrange implementation of the meters which require upgrading.