Everything you need to know about P432

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    Contents

    Guide Author

    James Longley

    Managing Director

    min read
    Last Updated March 13, 2024

    What is P432?

    Ofgem has now approved the BSC modification P432, which will require new meter connections with current transformer meters to be moved to a half-hourly basis from the modification’s implementation date of the 15th of April 2024.

    The integration of the P432 modification is happening as part of a comprehensive plan aimed at coordinating usage and capacity in the UK, while also enabling businesses to adhere to net-zero standards.

    TELCA 2022 Banner

    How to identify if you have a half-hourly meter?

    A half-hourly meter, also known as HH or 00) is a business electricity meter that sends usage data to your energy supplier every half an hour. This modification changed the way you are billed for electricity usage and brought in some additional charges that you need to be prepared for.

    To identify if you have a half-hourly meter, simply check the Meter Point Administration Number (MPAN) on your electricity bill, if your profile class (the first two-digit number in the box to the immediate right of the ‘S’) is 00, then you have a Half Hourly Meter.

    How will P432 impact you?

    This new P432 modification offers opportunities for consumers to review their energy consumption and utilise the benefits of available flexible tariffs. To navigate this change effectively, we recommend contacting our team of energy experts. Our team can help you secure the best tariffs for your business’s energy needs.

    Statement from Ofgem regarding the P432 modification

    “Currently, generators and suppliers trade electricity in the wholesale market in half-hourly periods, but most customers are settled on a ‘Non-Half-Hourly’ (NHH) basis, using consumption estimates based on profiles of average customers and meter readings. There can be considerable variances between these estimates and actual usage. Market-wide half-hourly Settlement (MHHS) will use smart meters to send accurate signals to suppliers about the cost of serving their customers throughout each day. This will place incentives on suppliers to offer new tariffs and products that encourage more flexible use of energy and help customers lower their bills. MHHS will, therefore, bring significant benefits to customers and wider society.

    BSC modification P432 was first submitted to Ofgem for the decision on the 20th of July 2022. However, the Final Modification Report (FMR) did not provide sufficient evidence that affected consumers would not be negatively impacted by increasing costs, by way of capacity charges, if migration were to be delivered on the existing implementation timeframe, or that the timeframe specified was necessary to de-risk overall MHHS implementation. We were therefore unable to decide. We sent the modification back to the BSC Panel on the 26th of August 2022 to be revised” – Melissa Giordano, Deputy Director of Retail

    Conclusion

    In conclusion, the main benefit of P432 is to minimise the risk the migration to the MHHS (market-wide half-hourly settlement) and improve settlement accuracy. This Modification will impact Suppliers, Generators and Distributors and have a minor impact on NHHDA (Non-Half Hourly Data). They may be required to amend systems and processes, but implementation and ongoing costs are expected to be low. If you have any further questions, speak to our energy experts today to find out more.

     

    What is the status of P432?

    Check out the links below to further understand the status of the P432 modification:

    https://www.ofgem.gov.uk/publications/decision-approve-bsc-modification-p432-half-hourly-settlement-ct-advanced-metering-systems

    https://www.ofgem.gov.uk/sites/default/files/2024-01/P432%20Approval.pdf

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    Next
    Please enter your business gas information
    How much do you spend & how often?

    An estimate is fine if you don't have a bill to hand

    Go Back
    Get Prices

    Let’s save time, can we automatically gather meter information?

    ? What does this mean?
    To get your quotes at lightening speed we need several key pieces of information which can all be found on your electricity bill. But by simply ticking this box, we can search ‘industry held data’ to get your meter number, electricity consumption and current energy supplier. This means that we can get you quick quotes without asking you to dig out all of your paperwork. This is personal data therefore we need you to allow us to access this information.
    Go Back

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