Regulatory update: P432

Understanding changes in the UK electricity market is crucial for businesses, particularly those with larger energy demands. A recent and significant change is P432, a modification to the Balancing and Settlement Code (BSC).

About P432

P432 mandates that all new meter connections with Current Transformer (CT) Advanced Meters must be settled on a Half Hourly (HH) basis from the implementation date of April 1st, 2024. This replaces the previous method of relying on individual meter readings for settlement.

This legislation applies to all Non-Half Hourly (NHH) CT electricity supplies, and includes customers across all NHH meter profile classes (PC 01-08).

The energy industry has set a deadline of October 28th, 2026 for all necessary work related to P432 to be completed.

We've created a useful explainer video below to tell you more about P432.

How does P432 affect SmartestEnergy customers?

At SmartestEnergy, we align our customer billing with how we settle with the industry. Therefore, P432 necessitates a Change of Measurement Class (COMC) for all affected connections.

This means we will be migrating our NHH CT meters (currently measurement class A) to Half Hourly (HH) metering (measurement class E).

Currently, 764 of our connections are impacted by P432 (belonging to 268 different customers).

How will the COMC impact your business?

The good news is that in many cases, SmartestEnergy can complete the COMC remotely. This means:

• You will likely not require a site visit.
• There will be no downtime to your electricity supply.

For meters that can be reprogrammed remotely, the process itself only takes a matter of minutes. SmartestEnergy will coordinate the COMC date with the meter operator and will keep you informed about when this change will occur.

For connections with AMR (Automated Meter Reading) meters, we can often reprogram them remotely to record HH data instead of individual meter readings. Please be aware that this reprogramming may potentially reset the read displayed on your meter to zero, depending on the meter type and manufacturer.

When will a site visit be required?

There are two instances where a site visit will be necessary to replace your meter. This will be if your current meter:

• Does not have the capability to provide HH data.
• Cannot be reprogrammed remotely.

If you require a site visit, we will contact all affected customers to arrange a convenient date for the meter replacement.

The site visit is typically brief, usually taking no more than one hour. However, there may be a short period of power interruption involved during the meter replacement.

However if a meter replacement is required, please be aware that the average lead time for a site visit is 3-4 weeks. However, availability can vary depending on your location. Our third-party meter operators will contact you directly to confirm the exact date and time for the visit.

The COMC is completed - what happens next?

After the COMC, SmartestEnergy will issue a final NHH bill based on the last meter reading taken before the change. All subsequent bills will be based on Half Hourly data and contract renewals will be based on HH tariffs.