Authors: Sarah Newman and Anjali Purewal, Commercial Analyst Graduates

Smart meters aren’t just an upgrade to your old meter. They’re also changing the way we use energy by offering new opportunities to save - all powered by accurate meter readings and secure smart meter data.

And they have a powerful role to play in Market-wide Half-Hourly Settlement (MHHS), a new system designed to make energy billing smarter, fairer and greener.

What is MHHS?

Energy companies buy gas and electricity to sell on to their customers, which means they need to estimate how much energy will be needed. Because they can’t be accurate, there can be a difference between the amount they buy and how much their customers eventually use. Settlement is the process for charging suppliers for this discrepancy.

Until now, settlement has depended on which supplier you’re with and the type of meter you have, often relying on estimated data. As a result, suppliers often buy too much or too little electricity. To cover any imbalance, suppliers are charged default rates – a cost that can come back to customers on their bills.

MHHS is designed to make the UK’s electricity system smarter and more efficient by settling energy use every 30 minutes, making it less reliant on estimates. It’ll help suppliers forecast and buy the energy their customers need more accurately.

In turn, this’ll help stabilise the grid, make more use of renewable energy, and may ultimately lower the cost of energy for customers - who could benefit by an estimated £1.6bn-£4.5bn between 2021-2045. The deadline to transfer to half-hourly settlement is May 2027, and most energy suppliers have already started shifting.

How MHHS works

Half-hourly data settlement means energy suppliers can access your electricity usage data every 30 minutes through your smart or half-hourly meter, so they can use it for settlement. Smart meters take automatic, regular readings, so the half-hourly ones will match usage exactly. For customers on a traditional meter, suppliers will use monthly readings to estimate their half hourly usage.

Do I need a smart meter for MHHS?

No, but we strongly recommend having one because they give you instant and accurate information about how much energy you’re using - and what it costs. Thanks to smart meter data, you benefit from:

• No more manual meter readings
• Real-time insights into your energy use so you can see where to save money
• Access to time-of-use tariffs (like cheaper electricity at off-peak times)
• Smarter control of devices like heat pumps, EV chargers and thermostats

That means no surprises, no hassles - just clear, accurate bills every time.

What is smart meter consent?

Your smart meter gives you control, and you can see what you’re using and saving at any time by accessing smart meter data. But it can do even more with your consent:

Settlement consent

Only uses your smart meter data for billing and market settlement, ensuring you pay for what you actually use, rather than estimates.

Beyond settlement purposes consent

Allows suppliers to use your smart meter data to give you tailored tools, smart tariff add-ons, and new ways to save.

By opting in, you can unlock personalised offers and smarter savings. Remember, your data is secure and only used for what you agree to. You can always change your consent at any time.

Concerned about getting a smart meter?

Privacy and data security

Smart meter data is encrypted and regulated under UK law (GDPR), and suppliers can only access what’s needed for accurate bills.

Smart meters don't have cameras or audio, so they can't record or see what you're getting up to at home.

Health and Safety

Smart meters emit very low levels of radio frequency - far below international safety limits and less than mobile phones or Wi-Fi routers.

UK Health Security Agency research shows they’re not a risk to your health.

MHHS is a big step toward a smarter, greener energy system. With smart meters and Hive’s connected devices, you’ll have more control, savings, and opportunities to use energy when it’s cheapest and cleanest.

Ready to take control, cut costs, and help build a greener future? Join the millions who’ve already given smart meter consent.