On 13 February 2025, more than 100 stakeholders joined attended the Retail Energy Code (REC) Market-wide Half Hourly Settlement (MHHS) event in London. This engaging and insightful training session brought together industry experts from RECCo, Ofgem, Elexon, and REC Parties to discuss key changes the upcoming initiative will bring to REC arrangements.
- Event Overview: On February 13, 2025, over 100 stakeholders attended the Retail Energy Code (REC) Market-wide Half Hourly Settlement (MHHS) training event in London.
- Purpose: The event aimed to discuss the upcoming changes due to the MHHS initiative, which is part of Ofgem’s Significant Code Review (SCR) to modernise electricity settlement.
- Key Changes: The introduction of the Target Operating Model (TOM) will restructure market roles, enhance data processing, and mandate industry-wide compliance to support a smarter, low-carbon energy system.
- Insights and Guidance: Industry experts provided guidance on REC impacts, code drafting, performance assurance, qualification, change management, and operational readiness.
- Resources: Participants can access the REC MHHS Training Slides and watch the REC MHHS Engagement Day 2025 Playlist on YouTube for more insights.
REC MHHS training event: insights and next steps – Retail Energy Code Company