Retail Settlements Balancing Solution
The performance of Electricity Suppliers is being adversely impacted by a number of factors related to Settlement Issues, and the lack of expert knowledge in identifying, prioritising and resolving data errors in this area in a timely and effective manner. In the experience of Utiliserve, this is particular highlighted in new entrant suppliers, who have a multitude of complex issues to consider at the same time, and don’t have the expertise in managing these. Improving a suppliers’ data quality will result in benefits throughout the organisation – more accurate settlement Charges and customer bills, Agent performance improvements plus enhancement of industry reputation.
Many new Electricity Suppliers believe that they can manage the tasks related to Settlement functions in-house without employing industry experts, and as such are unaware of the risks they are taking. However, it is a false economy to ignore the area of Settlement Imbalance as any mistakes could have a considerable financial impact on an Electricity Suppliers’ business. To this end, Utiliserve has developed a solution, as part of its overall outsourced managed service, which takes away the pressure of managing these high risk areas from electricity suppliers and allows them to focus on their core business of winning customers and growing in the market. In effect, the Utiliserve solution acts as an ‘early warning system’ to electricity suppliers when they may be heading for excessive, unnecessary and avoidable costs.
- Validation of Daily Imbalance Invoices received from Elexon
- Supplier Agent Management (DC/MOP etc) to ensure improved performance at Final Reconciliation
- Daily, Weekly or Monthly Reporting from Utiliserve as required
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